Feb 25, 2025, 12:01 AM
Feb 25, 2025, 12:01 AM
Thousands face hefty stamp duty bills as deadline nears in England
- Rightmove estimates that over 25,000 first-time buyers will miss the March 31 stamp duty deadline.
- These home movers can expect to collectively pay an additional £142 million in stamp duty fees due to the deadline.
- The situation highlights the challenges faced by first-time buyers and the broader implications of the stamp duty policy changes.
In England, many home buyers find themselves in a precarious situation as the stamp duty deadline approaches. More than 25,000 first-time buyers are anticipated to complete their transactions after the March deadline, leading them to incur additional costs. Rightmove forecasts that these buyers may collectively owe an extra £34 million in stamp duty due to the impending changes. For the general home buyers, nearly 74,000 are also set to miss this deadline, with an expected combined increase of £142 million in taxes due to late completions. From April 1, sweeping changes to the stamp duty regulations will take effect, effectively reducing the
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