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Article: Stamp duty on homes is axed Darling removes tax on houses up to Pounds 175,000
- Article from:
- Belfast Telegraph
- Article date:
- September 2, 2008
- Author:
CopyrightCopyright 2008 Belfast Telegraph. Provided by ProQuest LLC. (Hide copyright information)
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NORTHERN Ireland's beleaguered housing market was today given a
major boost after Chancellor Alistair Darling removed stamp duty
from home purchases worth less than Pounds 175,000.
These homes are to be exempted from stamp duty for 12 months as
part of a package to revive the housing market.
The change, which comes into effect tomorrow, raises the
threshold on which 1% stamp duty is paid by Pounds 50,000 from its
current level of Pounds 125,000.
The move will save eligible home-buyers up to Pounds 1,750 when
they purchase a property, and relates only to buildings entirely for
residential use.
In a statement, the Treasury said: "The Chancellor of the
Exchequer has today announced that stamp ...