Advice Company Update

Stamp Duty Cuts take effect immediately: How much stamp duty will you pay now?

Chancellor Kwasi Kwarteng has announced that stamp duty will be cut.

What does the stamp duty cut mean to you and how much will you pay now?
Are you a First Time Buyer?

First-time buyers will see their exemption level raised from £300,000 to £425,000 and pay no stamp duty up to that level.

The maximum value of a property on which first-time buyers’ relief can be claimed will also increase from £500,000 to £625,000.

Not a First Time Buyer?

There will be no stamp duty on the first £250,000 of a property purchase, instead of £125,000.

No change has been announced for additional property SDLT surcharges.

These changes apply to England and Northern Ireland and take effect immediately.


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