Treasury increases stamp duty threshold by 50K for one year

The Treasury has increased the stamp duty threshold by £50,000 to £175.000 from 3rd September until September 2009.

This will provide an exemption from stamp duty land tax for land transactions consisting entirely of residential property sold for £175,000 or less.

This relief will apply to transactions with an effective date on or after September 3 2008 and before September 3 2009.

The decision follows mounting pressure on the Government to take action to reinvigorate the housing market.