Sep 2nd - Stamp Duty Removed
The Chancellor of the Exchequer has announced that stamp duty land tax will not apply to purchases of residential property costing £175,000 or less.
This means that land transactions consisting entirely of residential property, and where the chargeable consideration is not more than £175,000, will be exempt from stamp duty land tax.
This will apply to transactions with an effective date on or after 3 September 2008 and before 3 September 2009.