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ARTICLE · 29 SEPTEMBER 2022

SDLT Cuts – What Do They Mean For Me?

Following the Mini Budget delivered on 23 September 2022, residential Stamp Duty Land Tax rates have changed (again). Unlike Sunak's "SDLT holiday of 2020-2021"...

United KingdomReal Estate and Construction

Following the Mini Budget delivered on 23 September 2022, residential Stamp Duty Land Tax rates have changed (again). Unlike Sunak's "SDLT holiday of 2020-2021", Kwarteng has confirmed that these cuts are permanent – a relief for the real estate sector at the prospect of no looming SDLT deadlines.

Unless you are a first time buyer, the cuts are far from ground-breaking but are no doubt intended to be the Mini Budget's mini boost for the residential property market and will be gratefully received by many.

FAQs

Do the changes apply to me?

Yes, if you are:

  • purchasing property in England or Northern Ireland;
  • have not yet exchanged contracts; or
  • have exchanged contracts but have not yet completed your purchase

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