23/09/2022
STAMP DUTY ANNOUNCEMENT!!!!
The government has announced a cut to stamp duty, the tax paid when people buy a property in England and Northern Ireland.
The threshold at which the tax falls due has been raised to £250,000 from its current £125,000 level.
Meanwhile the threshold for first-time buyers has been increased from £300,000 to £425,000.
The changes should remove 200,000 people from having to pay stamp duty, Chancellor Kwasi Kwarteng said.
The chancellor also increased the value of the property on which first-time buyers can claim stamp duty relief from £500,000 to £625,000.
A buyer splashing out £500,000 on a home will now be charged £12,500 rather than the previous £15,000.