Deloitte comments on end of stamp duty relief |
24 March 2012
As stamp duty land tax relief comes to an end today, Phil Nicklin, real estate tax partner at Deloitte comments:
“It is not just super-prime which has taken a stamp duty hit this week. At the other end of the scale, there is bad news for first-time buyers of property for less than £250,000 because this stamp duty relief expires today. The decision not to renew this relief from the lowest rate of 1% could cost people trying to get onto the housing ladder an extra £2,500. Only homes bought for £125,000 or less will continue to be exempt. The reduced charge has benefited over 180,000 first-time buyers.”
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