Stamp duty land tax cut retained - for now
The Autumn Budget contained a number of tax rises. However, one of the cuts from the mini-Budget in September was retained on a temporary basis. What's the full story?
Jeremy Hunt's first budget as Chancellor was marked by tax rises, albeit using "fiscal drag" rather than raising rates. This method raises additional revenue by freezing thresholds and allowances, such as the personal allowance. The speech was a contrast to the tax-slashing mini-Budget. Of course, most of the tax cuts announced in September have been abandoned. However, the cut to stamp duty land tax - including a doubling of the 0% band - were preserved.
The Chancellor confirmed that the measures would be kept, but that a sunset clause would be added. The cut will now end on 31 March 2025. The policy announcement document refers to all of the measures as "the SDLT cut" collectively, so it appears that the additional relief for first-time buyers will also be curtailed in 2025.
Related Topics
-
HMRC’s new compliance check service
HMRC has published a collection of videos and notes to help if you’re picked for a compliance check. Is HMRC’s new service worth a look or is it just official propaganda?
-
Income sharing trouble for separated couple
After a couple separated one spouse received income from letting the property she jointly owned with her estranged spouse. HMRC taxed all the income on her. Was it right to do so or should her spouse have been taxed on half the income?
-
How to handle workers aiming to "Slide Away" to an Oasis Concert
The Oasis Live ’25 UK reunion tour starts in Cardiff on 4 July 2025 and concludes in London on 28 September 2025. With ticketless fans keen on obtaining last-minute tickets and ticketed fans eager to get to the gig for when the gates open, this could have an impact on staff productivity and timekeeping. How can you tackle these issues?