Mini Budget 22: Chancellor confirms stamp duty cut

The change doubles the threshold from which Stamp Duty Land Tax (SDLT) on the purchase of residential properties in England and Northern Ireland from £125,000 to £250,000. The threshold at which first-time buyers begin to pay SDLT will increase from £300,000 to £425,000, and the maximum value of a property on which first-time buyers' relief can be claimed will also increase from £500,000 to £625,000. "Today's statement is about growth, home ownership is the most common route for people to own an asset, giving them a stake in the success of our economy and society," said Kwarteng in hi...