UK government announces stamp duty cut

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Residential Conveyancing - Caroline Hume
By Caroline Hume
Partner – Head of Residential Property

23 September 2022

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On 23rd September the UK’s chancellor Kwasi Kwarteng announced a permanent cut to stamp duty on property purchases as part of his mini-budget. This change becomes effective immediately.

The update raises the SDLT-free threshold from £125,000 to £250,000, and from £300,000 to £425,000 for first-time buyers. The move was made to help boost the UK’s housing economy by helping more people to move and boosting first-time house ownership.

For more information, read the latest government update here.

Disclaimer: General Information Provided Only
Please note that the contents of this article are intended solely for general information purposes and should not be considered as legal advice. We cannot be held responsible for any loss resulting from actions or inactions taken based on this article.

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