The Guardian is reporting that Stamp Duty might be replaced by a potential national property tax.  In summary:

• Proposal: The Treasury is reportedly considering a new national tax on the sale of homes worth more than £500,000.
• Purpose: The tax is being explored as a way to overhaul stamp duty and council tax. The goal is to address the unfairness of council tax, which is based on outdated property values from the early 1990s, and to tap into the significant rise in house prices to combat entrenched inequalities.
• How it would work: The national tax would be a levy on owner-occupied homes sold for over £500,000. The amount paid would be a proportion of the property’s value, with the rate set by the central government. HMRC would collect the tax. It would not replace stamp duty on second homes.
• Impact: Only about 20% of current residential sales would be affected by the proposed tax.
• Council Tax replacement: In a more radical move, officials are also considering a local property tax to replace council tax. This would be an annual levy on properties up to £500,000, with owners paying a minimum of £800 a year. The funds would go directly to local councils.