UK government cuts home stamp duty

Philippines News.Net
Tuesday 2nd September, 2008

In the UK, properties costing less than £175,000 have been given an exemption from stamp duty for the next year.

At present, homebuyers purchasing properties that cost between £125,000 and £250,000 have to pay one per cent of the purchase price to the Government in stamp duty.

The moratorium on stamp duty is being seen as an attempt by Prime Minister Gordon Brown to revive the stagnant housing market.

Buyers of properties worth more than £250,000 will continue to have to pay three per cent in stamp duty, and homes above £500,000 four per cent.

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