Press release
23 September 2022
Commenting on the Stamp Duty Land Tax (SDLT) cut announced today, Toby Price, Head of Stamp Taxes at Deloitte, said:
“The stamp duty cut of up to £2,500 will be welcome news for buyers in England. Buyers elsewhere within the UK will need to wait and see if the devolved administrations follow suit.
“This may have much less impact than the previous larger scale SDLT holiday announced in July 2020. The SDLT holiday provided an exemption up to £500,000, whereas today’s announcement stops at £250,000 for those who are not first-time buyers. The SDLT holiday cost around £4bn per year, whereas this is costed at around £1.5bn.
“It is also a permanent cut – so does not carry the same immediate incentive to act as a temporary measure.”
@DeloitteUK for live comment
Deloitte spokespeople
Deloitte has a range of spokespeople available to comment on today’s Budget. They can be reached on 020 7007 3333 or 0207 303 5054 or one of the following numbers:
• Amanda Tickel - Head of tax policy (07920 270 964)
• Rachel McEleney - Personal tax (07826 891 752)
About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.
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