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Good news for homebuyers - Increased Stamp Duty Threshold

New thresholds introduced from 3 September 2008 mean that if you buy property and the purchase price is £175,000 or less you don't pay any Stamp Duty Land Tax at all.  If it's more than £175,000, you pay between one and four per cent of the whole purchase price. The £175,000 threshold (up from £125,000) will remain in place up to and including 2 September 2009.

The new rates are as follows;