Critics of the proposal say that it would deter homeowners from downsizing

Sajid Javid is considering a change to stamp duty that would switch the tax burden from buyers to sellers.

It would ensure that first-time buyers never pay the tax and also help families buying bigger properties. However, it would result in larger tax bills for those who have benefited from soaring property prices and are looking to downsize.

The plan is one of a number of tax changes under consideration for a budget later this year. In his first interview as chancellor, Mr Javid told The Times: “I’m a low-tax guy. I want to see simpler taxes.” He said that he was looking at various options when asked about stamp duty reforms including reversing liability from those buying property to those selling.

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