Housing Tax

[philupmaboug]

Is it true that as of December this year the Government is dropping the housing tax threshold from £175,000 to £125.000 so that any purchase over the 125k is taxable ?

[topotheuk]

I was just looking at this today. I believe what is happening is that Stamp Duty was temporarily raised from £125K to £175k until December 2009, whereby it then reverts back to £125k. Just like the VAT rate was lowered temporarily until December 2009. Don't take this as gospel, but I looked at a few websites to find out about the Stamp Duty. Check here: www.mortgages.co.uk/mortgage-fees/stamp-duty.html it gives lots of info on Stamp Duty. Cheers :)