Property News · November 22, 2017

Stamp duty cut for first-time buyers hopes to fix housing market


Chancellor more than doubles the tax threshold to £300,000 in his budget, effectively exempting 80% of all new buyers Scrapping stamp duty for four out of five first-time buyers was part of a package of measures designed to fix the housing market announced by the chancellor, Philip Hammond. With effect from today, first-time buyers in England, Wales and Northern Ireland spending up to £300,000 on a property will no longer pay the tax, while those paying up to £500,000 will only be charged on the part of their purchase over the new threshold. Continue reading…

Source : theguardian.com
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