2009-11-17housingwire.com

The UK real estate market is showing some improvement amid a recently extended moratorium on the nation’s land stamp tax, but some industry groups warn that without another extension on the moratorium, or even repeal of the stamp tax, those gains could be lost in 2010.

The land stamp duty is a tax imposed on UK mortgagees and varies depending on the purchase price of the home. In 2008, the minimum purchase price threshold for a 0% tax rate was temporarily raised from £125,000 (US$206,840) to £175,000. The tax rate for homes purchased for more than £500,000 was capped at a maximum 4%.



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