As part of the Government’s Growth Plan, our new Chancellor, Kwasi Kwarteng, announced a cut in Stamp Duty Land Tax.
The Chancellor confirmed that the Government will be doubling the stamp duty threshold and increasing the exemption for first time buyers, meaning homes valued at £250,000 or less are exempt and first-time buyers can spend up to £425,000 without paying stamp duty.
This announcement aims to help more people to move homes, promote residential investment and boost first-time ownership.
