© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

‘It’s bittersweet’: what home-buyers think of chancellor’s stamp duty cut

Property-hunters on how permanent reduction for purchases in England and Northern Ireland will affect them

The UK chancellor, Kwasi Kwarteng, has announced a permanent stamp duty reduction for property purchases in England and Northern Ireland – a move that forms part of a mini-budget critics say will reward the rich more than those on lower incomes.

Under the new system, effective from Friday, the first £250,000 of a property’s value will be exempt from stamp duty. Buyers will pay 5% of the value of the home from £250,001, while the portion between £925,001 and £1.5m will continue to be taxed at 10%. Any property worth more than that will be subject to stamp duty rates of 12%.

Continue reading…

Related posts

Afghanistan: with the US gone, how soon will the Taliban show their true colours?

AEA3

NHS England care delays harmed 8,000 people and caused 112 deaths last year

AEA3

Millions in UK face disenfranchisement under voter ID plans

AEA3

Pin It on Pinterest

Share This