12 March 1999

Stamp duty rises

Stamp duty rates are to be inc-reased from Mar 16. The latest rises are from 2% to 2.5% on property sales over £250,000 and from 3% to 3.5% where the sum is more than £500,000. (Transfers up to £60,000 remain free of charge and, for deals between £60,000 and £250,000, the rate is 1%.) Even on a sale of 200 acres, the increase will add about £2000 to the purchase price.