Mini Budget 22: Chancellor confirms stamp duty cut

200,000 taken out of stamp duty

clock • 7 min read

Chancellor Kwasi Kwarteng has confirmed a stamp duty cut, effective from today (23 September), in a bid to boost movement in the housing market.

The change doubles the threshold from which Stamp Duty Land Tax (SDLT) on the purchase of residential properties in England and Northern Ireland from £125,000 to £250,000. The threshold at which first-time buyers begin to pay SDLT will increase from £300,000 to £425,000, and the maximum value of a property on which first-time buyers' relief can be claimed will also increase from £500,000 to £625,000. Mini Budget 22: Tax cuts and deregulation to benefit new investment zones "Today's statement is about growth; home ownership is the most common route for people to own an asset, giving...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot