Changes from 23rd September 2022

The Chancellor has just announced the following changes to Stamp Duty:

The government is committed to an economy based on high growth and low tax, to help people keep more of the money they earn and drive business investment as a result.

To help achieve these aims, the government is reforming stamp duty by doubling the level at which people begin paying this from £125,000 to £250,000.

This government is also committed to helping first-time buyers get on the property ladder in two ways. Firstly, by increasing the level first-time buyers start paying stamp duty from £300,000 to £425,000.

In addition, the government is allowing first-time buyers to access the relief when they buy a property costing less than £625,000 rather than the current £500,000.

These measures will reduce stamp duty bills across the board for all movers by up to £2,500 with first-time buyers able to access up £11,250 in relief.

The government has provided the following clarification via their gov.co.uk

Click here to read all the information from the Government 

Thinking of moving?

Given the changes in Stamp Duty, if now is the right time for you to move we would welcome the opportunity to work with you, with 1000+ five star reviews from exceptionally happy clients you can be assured of outstanding customer service and expertise. Give us a call on 0330 223 1000 to book a valuation today, we will make sure you are put through to the right Move Revolution office, from London to Brighton.

We can’t wait to speak with you.