News Flash – Stamp duty threshold raised to £500k

What does the new stamp duty holiday mean for you.

The government has today (8th July) unveiled a new stamp duty holiday that will run until 31st March next year.

As soon as the chancellor made the announcement there was a rush of people looking at property on Rightmove.

But what does this mean for you?

Previously, you would have paid stamp duty on homes sold for at least £125,000, or if you were a first-time buyer, on properties sold for more than £300,000.

But Rishi Sunak has now raised this threshold to £500,000.

This means that nine out of 10 people buying a main home between now and the end of March will pay no stamp duty at all, and the average stamp duty bill will fall by £4,500.

Read more on Rightmove…

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