Quote:
Originally Posted by MashinBenzin
The Times suggests temporary abolition on properties up to £500k. Expected to be announced as an outline plan today, with full details to follow in the autumn budget. So we shouldn't have long to wait to find out more.
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The way I read it it's effectively a temporary increase in the threshold at which stamp duty becomes payable? So basically nothing to pay on the first £500k but if the property value's above that stamp duty will start to become payable (but only on the excess above £500k and presumably on a sliding scale?). Therefore, all house purchasers would benefit, it's just that those buying higher value properties will still have to pay at least some stamp duty.
As you say, though, the Chancellor is expected to make an announcement later today so we should know more then!