MPS VOTE AGAINST PERMANENT STAMP DUTY CUT – YOUR MONEY
MPs have voted against a permanent cut to the stamp duty threshold, upholding the decision made by Chancellor Jeremy Hunt to end the discount in March 2025.
In the Autumn Statement, Hunt reversed the decision made by his predecessor Kwasi Kwarteng to permanently raise the threshold for stamp duty land tax from £125,000 to £250,000.
Instead, he announced the stamp duty cut would be temporary, ending in March 2025.
The Stamp Duty Land Tax (Reduction) Bill has this weekend undergone a third reading in the House of Commons, where an amendment to make the stamp duty reduction temporary was agreed.
The Bill was introduced on 24 October following the disastrous mini Budget.
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