Stamp Duty Land Tax Cuts

The chancellor announces a cut to the Stamp Duty Land tax in England and Northern Ireland.

The cut raises the threshold of how much a property has to cost before stamp duty is paid to £250,000.

First time buyers currently pay no stamp duty on the first £300,000, that will be raised to £425,000.

The Chancellor announced on Friday 23rd September 2022, "And we’re going to increase the value of the property on which first-time buyers can claim relief, from £500,000 to £625,000. The steps we’ve taken today mean 200,000 more people will be taken out of paying stamp duty altogether. This is a permanent cut to stamp duty, effective from today."

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