Kwasi Kwarteng Britain Scotland Ireland COST UPS Kwasi Kwarteng Britain Scotland Ireland

What does Kwarteng’s stamp duty cut mean for UK homebuyers?

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The chancellor, Kwasi Kwarteng, has confirmed a permanent stamp duty cut, with no tax to be paid on properties up to the value of £250,000.Kwarteng announced the policy in a mini-budget on Friday, almost a year after the last stamp duty holiday ended.

He also increased the threshold for first-time buyers to £425,000. Here we explain the changes in full.Stamp duty is a tax paid by homebuyers in England and Northern Ireland, based on the value of the property they are buying.

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