On 23 September the then Chancellor Kwasi Kwarteng announced three changes to SDLT:
  • an increase in the threshold up to which SDLT is not paid - the 'nil-rate threshold' - from £125,000 to £250,000.
  • an increase in the nil-rate threshold for first-time buyers relief, from £300,000 to £425,000 an increase in the maximum amount first-time buyers can buy a house for and still be eligible for relief, from £500,000 to £625,000.
  • The then Chancellor confirmed these changes were a permanent cut to SDLT, effective immediately.