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Stamp Duty to increase for properties of £250,000 plus

Stamp duty on properties over £250,000 is to be increased. Chancellor Gordon Brown outlined the plans in today&#39s budget.


The proposals which come into force on March 16, 1999, will see Stamp Duty on properties of £250,000 to £500,000 increased from 2 per cent to 2.5 per cent and properties of £500,000 plus increased from 3 per cent to 3.5 per cent.


For properties of £60,000 up to £250,000, Stamp Duty remains unchanged at 1 per cent of the sale price.

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