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UK Stamp Duty Cut: When Will It Start? How Much Is the Saving?

Sept. 23, 2022, 10:15 AM

UK Chancellor of the Exchequer Kwasi Kwarteng’s mini-budget announcement included the much-anticipated stamp duty cut, an attempt by Prime Minister Liz Truss to stimulate economic growth. The biggest tax reductions since 1972 are one of the government’s measures to help households tackle a cost-of-living crisis and spur global competitiveness.

Here’s how the reduction is set out.

When will stamp duty be cut?

The new stamp duties were announced in the mini-budget statement on Friday, the first fiscal package the new government had been working on since it was formed earlier in the month. The change is aimed to allow first-time homebuyers to get ...