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Friday 04th of February 2011

News Tag: threshold

January 31, 2011

IFS: Higher tax rate to hit 750,000 more people

by Kay Murchie
Respected think tank, the Institute for Fiscal Studies (IFS), has today revealed three quarters of a million people will become higher rate taxpayers from April. The earnings threshold will be lowered to £35,001 from £37,400 on 5 April - with the IFS estimating that the average household will be £200 worse off. The study from the IFS is published on ...

December 10, 2009

No extension to stamp duty holiday

by Gill Montia
The Chancellor of the Exchequer has chosen not to extend the stamp duty holiday, which comes to an end on 31st December, despite hopes that the UK's housing market would be buoyed by a further concession on the tax. From 1st January, the duty becomes payable at 1% on properties worth between £125,000 and £175,000, with the previous £175,000 threshold having helped ...

November 22, 2009

Stamp duty holiday helps fewer than intended

by Gill Montia
As commentators on the UK property market mull over the impact of the end of the stamp duty holiday, Zoopla.co.uk is claiming that far fewer home buyers have benefited from the concession than the Government intended. The threshold on the duty was raised from £125,000 to £175,000 in September 2008 and is due to revert at the end of this year. However, ...

November 17, 2009

Regional response to end of stamp duty holiday

by Gill Montia
With the stamp duty holiday due to end on 31st December, the Royal Institution of Chartered Surveyors (RICS) is warning that a return to the previous structure of the tax could have a detrimental affect on the UK's fragile property market. According to the body, regions that are already lagging behind in the recovery will be worst affected. In a recent ...

September 3, 2009

Stamp duty suspension: the end is nigh

by Gill Montia
Homebuyers are being reminded that time is slipping away for the stamp duty holiday on properties worth up to £175,000. The levy was suspended in September of last year when the Government raised the threshold at which 1% stamp duty is paid from £125,000 to £175,000, creating an opportunity for homebuyers to save up to £1,750. The concession, which failed to kick-start ...

September 2, 2008

Stamp Duty suspended for purchases under £175,000

by Gill Montia
Stamp Duty suspended for purchases under £175,000
The Government has announced that stamp duty is to be suspended on homes sold for below £175,000. The move, which raises the threshold at which 1% stamp duty is paid from £125,000, could save homebuyers up to £1,750. The concession comes alongside measures to help first-time buyers and homeowners struggling with mortgage repayments, unveiled earlier today. The change is effective on residential ...