The Stamp Duty Land Tax (Temporary Relief) Act 2023 received Royal Assent on 8 February 2023. The Act’s one substantive section brings the 23 September 2022 increase in the nil-rate threshold (to £250,000) to an end for land transactions which complete before the end of 31 March 2025. The nil-rate threshold and eligibility cap for first-time buyers’ relief are also increased for the same period. These changes were originally to have been made permanent, but the policy was changed as part of Chancellor Hunt’s reversal of Chancellor Kwarteng’s Growth Plan 2022.
The Stamp Duty Land Tax (Temporary Relief) Act 2023 received Royal Assent on 8 February 2023. The Act’s one substantive section brings the 23 September 2022 increase in the nil-rate threshold (to £250,000) to an end for land transactions which complete before the end of 31 March 2025. The nil-rate threshold and eligibility cap for first-time buyers’ relief are also increased for the same period. These changes were originally to have been made permanent, but the policy was changed as part of Chancellor Hunt’s reversal of Chancellor Kwarteng’s Growth Plan 2022.
