Stamp duty axed for a year
HOMES worth £175,000 or less are to be exempted from stamp duty for 12 months as part of a package to revive the housing market, the Chancellor announced today.
The change, which comes into effect tomorrow, raises the threshold on which 1% stamp duty is paid from its current level of £125,000.
The move will save eligible home-buyers up to £1,750 when they purchase a property, and relates only to buildings entirely for residential use.
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