A mini U-turn on Stamp Duty Land Tax
One of the few changes announced on 23 September that has not been reversed concerns the U-turn on Stamp Duty Land Tax (SDLT) in England and Northern Ireland. The starting threshold was increased from £125,000 to £250,000 (and, for First Time Buyers, from £300,000 to £425,000) from 23 September 2022.
However, it has now been announced that these are to be temporary changes and, from 1 April 2025, the thresholds will return to their original rates.
And remember…
As previously announced and as we head into 2023;
- The £1million Annual Investment Allowance – giving 100% tax relief to businesses investing in qualifying plant and machinery – is now permanent.
- The Government is increasing the generosity and availability of certain Venture Capital Schemes, including the Seed Enterprise Investment Scheme for start-up companies.
And finally, in all matters, we are here to help you. Please do get in touch about any of the Autumn Statement measures or otherwise.
Do you need further guidance on the mini U-turn on Stamp Duty Land Tax?
Get in touch with our team of property accountants for advice and support you can trust. You can contact us on 0161 962 1855 or by filling out the form below and we will contact you as soon as possible.