Stamp Duty Land Tax – TTFN
Posted by markharrison on September 2, 2008
As I wrote last month, the Government have been considering what to do about Stamp Duty Land Tax (SDLT).
Well, the knee-jerk response is now here.
As of tomorrow (3rd September 2008), SDLT will be zero on all properties under £175,000, for a period of one year.
What impact this will really have on the housing market is uncertain – the biggest thing it does is remove the cloud of uncertainty that was causing some buyers to wait because they’d heard it might be removed! However, it does nothing to address the real cause of buyer delay – the fact that it’s much harder to get mortgages, which has everything to do with liquidity in the secondary market… and little to do with tax.