UK Stamp Duty Cut: When Will It Start? How Much Is the Reduction?
The threshold for zero stamp duty rate is doubled to £250,000 and increased to £425,000 for first-time buyers.
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UK Chancellor of the Exchequer Kwasi Kwarteng’s mini-budget announcement included the much-anticipated stamp duty cut, an attempt by Prime Minister Liz Truss to stimulate economic growth. The biggest tax reductions since 1972 are one of the government’s measures to help households tackle a cost-of-living crisis and spur global competitiveness.
Here’s how the reduction is set out.