UK Stamp Duty
UK Stamp Duty
The Chancellor of the Exchequer, Rachel Reeves, introduced her first budget today, and it was a big one. There was a big increase in tax on businesses and individuals with additional sources of income, and an increase in the level of stamp duty payable on second properties was also announced. Currently there is a 3% […]
The last few months have been a case of changes, u-turns, and more changes for the UK taxation system. One change that was put in by Kwasi Kwarteng in his short lived mini budget, was a change to stamp duty rates. This meant that rates were cut for a significant number of transactions (see link […]
The chancellor, Kwasi Kwarteng, has today announced some changes in his ‘mini-budget’ including a reduction in the rate of stamp duty for some purchases. What are the stamp duty changes that have been announced? They are as follows: No stamp duty is payable on purchases under £250,000 (this was previously set at £125,000) and for […]
In the budget today (3rd March 2021), Rishi Sunak announced that the stamp duty holiday that was previously going to run until 31st March 2021, has been extended until 30th June 2021. This extension was anticipated by the press and industry alike, as there has been a lot of action in the housing market to […]
The Chancellor of the Exchequer, Rishi Sunak, has just announced in his first budget speech on 11 March 2020, that there will be a surcharge on property purchases for overseas buyers buying property in the UK. The surcharge was stated to be 2% on top of the standard rates, and this would take effect from […]
Due to the ongoing political turmoil we are still waiting for an announcement on when the 2019 Budget will take place. Obviously with Brexit on the horizon I think we can assume that it is likely to be after 31st October when we will all have a better idea of the political and economic situation. […]
The Chancellor of the Exchequer, Philip Hammond, delivered his 2018 Budget yesterday (29th October) and introduced a couple of changes to Stamp Duty within that budget. One change was announced in the House of Commons during his budget speech and the other change was in the small print of the published budget documentation and so […]
In his much anticipated Budget today, the Chancellor Philip Hammond has announced that there will be an abolition of Stamp Duty for First Time Buyers (FTBs) up to the purchase price value of £300,000. This announcement had been anticipated by the property community and had been encouraged to help the FTBs who were finding it […]
We recently speculated on whether there would be any changes to stamp duty announced in the spring Budget of 2017. We thought it unlikely that any changes would be introduced at this stage although the most likely change would be to increase the threshold at which stamp duty was payable up from £125,000 (for first home […]
There is a general murmur and some anticipation that there may be some changes to UK Stamp Duty in Philip Hammond’s first Spring Budget. Mr Hammond took over as Chancellor of the Exchequer from George Osborne in July 2016. However, we should really take any rumours with a pinch of salt as they generally stem […]