Qualified advisers answering your
Financial Questions
call 0800 092 1245

Home Information Packs - A Tax On Home Sales?

The National Association of Estate Agents has called on the government to instigate a thorough review of the Home Information Pack (HIPs) system amid claims that it is not fit for purpose. It was common knowledge prior to the launch that some mortgage lenders would still ask for their own surveys leading to claims that HIPs are just a tax on home sales.

However, the chances of the government doing another u-turn are very low with pressure coming from all angles, the latest being a proposed windfall tax on the energy companies. The government has lost face over so many issues during the last 12 months that it now seems as though they will resist ANY calls for change, no matter which sector and for whatever reason.

As a consequence, a system which was supposedly designed to ensure that house sales would be quicker and less expensive has tuned into something of a farce. Even some estate agents are flouting the rules or at least pushing the letter of the law to the limit. Piling an extra layer of cost onto an industry which is suffering more than most is not the solution, but it looks as though the industry will just need to baton down the hatches and try and get through this difficult period.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details