8. Stamp Duty Land Tax (Thresholds for Residential Property)
9:45 pm

Resolved,

That—

(1) Part 4 of the Finance Act 2003 (stamp duty land tax) has effect in relation to transactions with an effective date on or after 22 April 2009 but before 1 January 2010 as if—

(a) in section 55(2) (amount of tax chargeable: general), in Table A (bands and percentages for residential property), for "£125,000" (in both places) there were substituted "£175,000", and

(b) in paragraph 2(3) of Schedule 5 (amount of tax chargeable: rent), in Table A (bands and percentages for residential property), for "£125,000" (in both places) there were substituted "£175,000".

(2) The following are revoked—

(a) the Stamp Duty Land Tax (Variation of Part 4 of the Finance Act 2003) Regulations 2008 (S.I. 2008/2338), and

(b) the Stamp Duty Land Tax (Exemption of Certain Acquisitions of Residential Property) Regulations 2008 (S.I. 2008/2339).

(3) The revocations made by paragraph (2) have effect in relation to transactions with an effective date on or after 22 April 2009.

And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

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