Stamp duty cuts are effective immediately, says Kwarteng
In case you missed it, the changes to stamp duty are “effective from today” says chancellor Kwasi Kwarteng.
He said: “In the current system, there is no stamp duty to pay on the first £125,000 of a property’s value. We are doubling that to £250,000.
“First-time buyers currently pay no stamp duty on the first £300,000. We’re increasing that threshold as well, to £425,000.
“And we’re going to increase the value of the property on which first time buyers can claim relief, from £500,000 to £625,000.”
He added: This is a permanent cut to stamp duty, effective from today.”
