Autumn Statement: Stamp Duty Land Tax savings remain
Two of the surviving measures introduced in the Mini–Budget are set to stay until 31 March 2025.
Jeremy Hunt confirmed in his Autumn Statement that the 0% threshold for Stamp Duty Land Tax (“SDLT”) will remain at £250,000. Potentially saving residential property purchasers in England and Wales £2,500.
He has also confirmed that the increase in First Time Buyers Relief thresholds will remain until this time. This means for those property transactions which qualify, the first £425,000 will be free from SDLT with properties up to a value of £625,000 being considered as part of these rules. This means a potential saving of up to £6,250.
If you would like further information on SDLT, please get in touch with our Real estate team.
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