Stamp duty SLASHED to help get families on the housing ladder: NO tax to pay on the first £250,000 of a home’s value and first-time buyers will pay NOTHING on buildings costing up to £425,000
Stamp duty was slashed today as the Government seeks to stimulate the housing market and help more families into their first homes.
The Chancellor raised the threshold at which stamp duty is paid from the first £125,000 of a property’s value to £250,000, good news for people upsizing.
And there was even more good news for first-time buyers, who will not have to pay any stamp duty on properties bought for £425,000 or less, up from £300,000. They will also be able to claim relief on the first £625,000, up from £500,000.