Changes to Stamp Duty Land Tax (SDLT)

On the 3 September 2008 the government announced a rise in the Stamp Duty Land Tax threshold, increasing the 0% tax threshold on purchases from £125,000.00 up to £175,000.00 for a one year period.

Perhaps this will give the property market the boost that it needs, enabling first time buyers and people wishing to make an investment in property, to enter the market.
This is certainly a step in the right direction as many will agree that this year has been a testing time for the property market which has not been assisted by the constant negative media. We should all look at 2008 as a year where prices are levelling out, re-adjusting and becoming more realistic.

Whilst this announcement has been welcomed it does not assist the middle market, of £250,000.00 and £500,000.00 who face a 3% charge to Stamp Duty Land Tax and many hope that the Government will in time make a concession in this respect to keep the market moving forward.

Let's keep our fingers crossed!

In the meantime, if you feel you wish to take advantage of this Stamp Duty Land Tax holiday, then why not try our cost calculator on our web site and see if this is an option for you.

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