If you are in the process of buying a house you may be able to take advantage of the higher stamp duty land tax threshold before it reverts back to £125,000 from 1st January 2010.
To give the property market needed boost, the chancellor announced a stamp duty land tax holiday on purchases of residential property costing no more than £175,000. The holiday period ends on 31 December 2009. From 1 January 2010, the threshold will revert to £125,000.
This means if you are eligible to save stamp duty on residential property completion must take place on or before 31 December 2009. Missing the deadline could be costly!
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