The tax threshold has been temporarily raised to £500,000 until next March and is effective immediately. Anyone completing on a main residence costing up to £500,000 between 8 July and 31 March will not pay any stamp duty, and more expensive properties will only be taxed on their value above that amount saving some buyers up to £15,000. Landlords and second home buyers are also eligible for the tax cut but will still have to pay the extra 3% of stamp duty they were charged under the previous rules.
For more information please contact us on 01892 510222, or at info@bussmurton.co.uk.
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