x
By using this website, you agree to our use of cookies to enhance your experience.


TODAY'S OTHER NEWS

Chancellor commits to Family Home Tax Guarantee

Chancellor Jeremy Hunt has pledged not to raise Stamp Duty as part of a Family Home Tax Guarantee.

Writing in the Daily Telegraph, Hunt promised that if the Conservatives win the General Election, property taxes won’t be increased.

He said: “This guarantee is a commitment not to increase the number of council tax bands, undertake an expensive council tax revaluation, or cut council tax discounts. 

“It is a commitment to maintain private residence relief, so that people’s main homes are protected from capital gains tax. And it is a commitment not to increase the rate or level of Stamp Duty.”

It is unclear if this means the Chancellor will return the residential nil-rate threshold from £250,000 to £125,000 and first-time buyer reliefs from £425,000 to £300,000 from 31 March 2025.

They were raised in the 2022 mini-Budget but Hunt later said the changes would be reversed.

It comes amid a clash between Prime Minister Rishi Sunak and opposition leader Keir Starmer over whether Labour’s plans would add £2,000 to UK tax bills.

icon

Please login to comment

MovePal MovePal MovePal