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New Stamp Duty Charges 23.9.2022

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.”