The government have announced today that it will not be
extending the stamp duty holiday that it put in place in 2010 and extending
until 24th March 2012.
This means that property buyers will be faced with an
additional cost of up to £250,000 if they complete their purchase after the 24th
March 2012. After this date entry level stamp duty will return, meaning 1% tax
on a purchase between £125,000 and £250,000.
Those thinking of buying on investing in property in 2012
may consider bring their plans forward to beat the tax deadline date, but
beware if you don’t find in early January you are unlikely to see the deal
complete before the deadline as sales are reportedly taking an average now of
92 days.
Paula Cunningham - Director
