The UK Treasury is examining plans to scrap stamp duty on owner-occupied homes and replace it with a national property tax that would apply to houses sold for more than £500,000, according to a report by the Guardian. Officials have been asked to model the impact of the levy and report back to Chancellor of the Exchequer Rachel Reeves ahead of the autumn Budget. The new charge, paid by sellers rather than buyers, would be designed on a proportional basis and is intended to capture a share of the gains from decades of house-price inflation. Treasury sources told the newspaper the levy could be introduced within the current Parliament and would ultimately aim to raise revenue comparable to the £11.6 billion generated by stamp duty in the last fiscal year, while affecting roughly 20% of property transactions instead of about 60% under the existing system. Officials are also studying a longer-term overhaul of council tax that could shift the burden to property owners and update valuations last set in the early 1990s. No final decisions have been made, but the options form part of a wider effort to broaden wealth-based taxation without breaching Labour’s pledge not to raise income-tax or VAT rates.