Chancellor Jeremy Hunt has pledged not to raise Stamp Duty as part of a Family Home Tax Guarantee.
Writing in the Daily Telegraph, Hunt promised that if the Conservatives win the General Election, property taxes won’t be increased.
He said: “This guarantee is a commitment not to increase the number of council tax bands, undertake an expensive council tax revaluation, or cut council tax discounts.
“It is a commitment to maintain private residence relief, so that people’s main homes are protected from capital gains tax. And it is a commitment not to increase the rate or level of Stamp Duty.”
It is unclear if this means the Chancellor will return the residential nil-rate threshold from £250,000 to £125,000 and first-time buyer reliefs from £425,000 to £300,000 from 31 March 2025.
They were raised in the 2022 mini-Budget but Hunt later said the changes would be reversed.
It comes amid a clash between Prime Minister Rishi Sunak and opposition leader Keir Starmer over whether Labour’s plans would add £2,000 to UK tax bills.
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