If the stamp duty threshold is raised as high as £500,000, this would be worth £15,000 to the home buyer. Mr Sunak acted on stamp duty after leaked reports revealed he was considering making a cut in his main Budget this autumn. If you want to do a fiscal stimulus via tax cuts then a temporary cut in stamp duty is fairly effective.' If the Government temporarily increased the threshold to £500,000, that could save people up to £15,000 in stamp duty, while an increase to £300,000 would save £5,000. 'A stamp duty holiday without better mortgage availability isn't really helpful for potential first-time buyers who are already mainly exempt from it anyway.'

Source: Daily Mail July 07, 2020 21:01 UTC