03/12/2014

Osborne Unveils Stamp Duty Reforms

Stamp duty is to be cut for 98% of homebuyers, Chancellor George Osborne has announced in his Autumn statement.

The new rules will see homebuyers pay nothing on £125,000 and 2% on the remaining £60,000. This works out as £1,200, a saving of £650.

Mr Osborne said the changes will come into effect from midnight.

(CD/IT)

Related UK National News Stories
Click here for the latest headlines.

16 March 2005
Brown's Budget promises for pensioners and homebuyers
Chancellor Gordon Brown has aimed his ninth Budget at pensioners and homebuyers with a series of promises including council tax refunds and an increase in the stamp duty threshold.
02 September 2008
Darling Spins 'Gloom' into 'Optimism', After Sterling Fall
UK Chancellor Alistair Darling has made an apparent 'U-turn' on his previously gloomy predictions for the British economy - insisting he is actually optimistic about overcoming financial difficulties. And the man holding the Government's purse strings also said that his own job is safe, despite rumours of a Cabinet reshuffle.
21 September 2015
£2bn Guarantee Announced For Nuclear Power Plant
The government has announce financial support of £2 billion for a new nuclear power station in Somerset. Announcing the government guarantee Chancellor of the Exchequer, George Osborne, said that nuclear power stations are "essential to make sure the lights stay on".
19 June 2013
Report Calls For Jail Terms For 'Reckless' Bankers
A long-awaited banking report has called for the jailing for senior bankers guilty of reckless misconduct. Following a number of banking scandals last year, chancellor George Osborne established the Parliamentary Commission on Banking Standards to review the industry and the conduct of bankers.
22 December 2011
Government To Waive Military Wives' Tax
The Chancellor of the Exchequer has announced the Government will waive VAT on sales of the Military Wives choir's Christmas single, which is set to be this year's Christmas number one.