The Stamp duty holiday – what does it mean? The Chancellor has announced a stamp duty holiday from July 8th 2020. For a limited time, the level at which stamp duty is charged on a residential property is being temporarily raised to £500,000. Before this announcement, it is only if you buy a home under £125,000 (or £300,000 for first-time buyers) that you are exempt from paying any stamp duty. What didn’t make it into the Chancellor’s statement was the fact the government has handed investors and second home buyers preferential treatment as well, with a sizeable cut in...
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