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Treasury increases stamp duty threshold by 50K for one year

The Treasury has unveiled a stamp duty holiday that will see the threshold property value lifted by £50,000 to £175,000 from tomorrow until September 2009.

Until now the threshold property value for the tax was £125,000.

The move will provide an exemption from stamp duty land tax for land transactions consisting entirely of residential property sold for £175,000 or less.

This relief will apply to transactions with an effective date on or after September 3 2008 and before September 3 2009.

The decision follows mounting pressure on the Government to take action to reinvigorate the housing market.


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