Stamp duty permanently abolished

BREAKING Stamp Duty has been permanently abolished for first-time buyers up to £300,000!

We are very pleased to report that today, 22nd November 2017, Philip Hammond has announced to permanently abolish Stamp Duty for first-time buyers purchasing properties up to £300,000 and in high-priced areas on the first £300,000 of houses worth up to £500,000.

The change will come into play at one minute past midnight today, says the Treasury briefing paper.

It says: “To ensure that all first-time buyers purchasing a house on Budget day benefit and to avoid disruption, the relief will take effect from Budget day (00:01 hours November 22nd).”

The paper says that in every region of England outside London, and in Wales and Northern Ireland, the first-time buyer will pay no Stamp Duty.

In London, the average Stamp Duty bill for a first-time buyer will nearly halve, from £10,500 to £5,500.

More on this story to follow.