Chancellor Rishi Sunak has today confirmed temporary changes to Stamp Duty Land Tax charges as part of a package announced to help stimulate the economy. The 0% tax threshold has been moved from £125,000 purchase price to £500,000 effective immediately, lasting until 31st March 2021.
This is estimated to save an average of £4,500 tax bill when buying a new house. Nearly 9 out of 10 people getting on or moving up the property ladder will pay no Stamp Duty at all.
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