Kwasi Kwarteng announces abolition of stamp duty on homes worth up to £250,000

Kwasi Kwarteng has announced a cut to stamp duty as part of the government’s fiscal event - or “mini-budget” - today, 23 September.

Buyers will pay no stamp duty on the first £250,000, and first time buyers will pay no stamp duty up to £425,000, with the tax cuts effective today.

The government claims that the cuts will enable “200,000 more people every year” to buy a home without paying any stamp duty at all.

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