SPECULATION over which side will end up paying stamp duty – buyer or seller - if changes are made to the tax on the sale of homes has divided opinion on a scale that’s almost knocked Brexit off its perch.

Initially it was Chancellor Sajid Javid who concentrated minds last weekend when he hinted changes might be made to the levy in the autumn.

Within 48 hours he’d denied that what he had in mind was transferring liability for stamp duty from buyers who currently shoulder the burden to those who are selling the property.

“I’m looking at various options,” he said. “I’m a low tax guy. I want to see simpler taxes.”

Prime Minister Boris Johnson had already admitted that while he was Conservative Party leader he’d met representatives from the Association for Accounting Technicians and shown interest in their proposal to make sellers liable for Stamp Duty instead of buyers. He’d asked them for further information which they’d provided.

Following the meeting, Phil Hall, ATT head of Public Policy and Public Affairs, said they were pleased Boris Johnson had weighed up the advantages.

Mr Hall said there had been an exchange of correspondence with the new Chancellor. Those who advocated reform had also “engaged with numerous civil servants, special advisers and politicians from across the political divide on the issue.”

He pointed out: “{It would] save the taxpayer £700m a year by rendering First Time Buyer relief redundant. It will also protect the £9bn of revenue stamp duty generates as it will still be paid in full, simply by different people.

“It is also much more progressive as it will be paid on the lower priced property being sold rather than the higher priced property being bought.”

Lucian Cook, highly regarded head of residential research for Savills, believes changes to stamp duty could be on the cards but only because you can’t rule anything out when there’s a new regime calling the shots.

In the long run, he can’t see how the sums will tot up to provide the necessary revenue for the Treasury and for that reason the reform is likely to be a non-starter.

He said: “In recent weeks there has been much speculation that Boris Johnson’s government will look again at the stamp duty system.

He told the Free Press: “If you were to believe everything you read, you could be convinced that an overhaul of stamp duty is a done deal. We certainly think changes…are more likely than before because of a change in political philosophy at the heart of the government.

“However, our analysis shows that while the mooted reforms make good headlines and would provide a welcome boost to a lethargic housing market, they would jeopardise substantial tax revenues.”

“This potentially limits the scope of any reform and means buyers and sellers need to weigh up the relatively modest possible future tax savings against the context of general market uncertainty.”

Pictured is the open plan kitchen/breakfast/famly room on the last house available on CALA Homes’ development in Grendon Underwood.

The four-bedroom, two-bathroom home comes with carpets/special flooring, light fittings and a ready laid lawn included in the price of £499,995. Part-ex is an option.