Stamp Duty Land Tax Changes (SDLT)
Posted on 17th October 2022 at 12:43
Stamp Duty on property. Jeremy Hunt has kept the increased limits. Great news for everyone!
First Time Buyers will - zero up to £425,000.
Selling and moving home is now £250,000 (was £125,000) before paying stamp duty.
Stamp Duty Thrshold Increases Remain
Krazy Kwarteng punished the UK economy with some wild stuff, however the increased thresholds for Stamp Duty for next time buyers and first time buyers was the one excellent measure and it is one that Jeremy Hunt is keeping in place.
First Time Buyers can purchase a property of a value up to and including £425,000 without paying any stamp duty at all.
Next time buyers are also better off than they were previously as they can now sell and purchase a main residence and the first £250,000 is free of stamp duty.
Do remember that the 3% stamp duty on the purchase of ANY second property remains in place. This can be reclaimed if the property is sold within 3 years.
Tagged as: #stampduty #SDLT #firsttimebuyer #mortgage
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