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Zero rate stamp duty threshold raised to 120,000 in today’s budget

The Chancellor has doubled the zero-rate stamp duty threshold to 120,000 from 60,000 from midnight tonight.

This is the first rise since 1993 when the average house price was 64,000 according to the Council of Mortgage Lenders.

There is no change to the charge on residential transactions where the consideration exceeds 120,000. There is no change to the higher threshold of 150,000 for residential transactions in designated disadvantaged areas.

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