Our home is at the core of human existence. It shapes how we live and our carbon footprint. As families grow, jobs relocate, and we age, our needs evolve. Life is ever changing. 

Given this, why would we accept the tax system getting in the way? Whatever our politics, tax comes with a social and economic cost. In many locations, SDLT is now a meaningful tax on aspiration and dynamism. An owner of a £1m home with a 75% mortgage loses 16.5% of their equity in tax alone if they need to relocate for any reason. 

The human response? Don’t move and you pay nothing. No wonder empty nesters rattle around in prime property and young professionals accept lengthy commutes and space they’ve grown out of: an economic, environmental and human cost no-one is counting. 

SDLT is essentially a wealth tax, paid up front on acquisition of what is normally our most valuable asset. Consideration of alternatives is desperately needed but, if that comes, SDLT already suffered needs to be recognised.