MINI BUDGET 2022: CHANCELLOR KWASI KWARTENG CUTS STAMP DUTY
Great news for first time buyers and home movers – The Chancellor has announced in the mini budget that stamp duty is being cut.
So, NO stamp duty will be paid on the first £250,000 of a property, and for first-time buyers the threshold will be £425,000, he says.
Kwarteng says “these measures will take more than 200,000 buyers out of paying for stamp duty altogether.”
He says “these cuts are permanent, and effective from today.”
What a great saving at a time when interest rates continue to rise.
https://www.bbc.co.uk/news/live/uk-politics-62994747
(Stamp Duty Land Tax is paid via your solicitor/conveyancer on the day of completion if you buy a property in England or Northern Ireland over a certain price.)
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