A STAMP Duty cut will end in 2025 the government has announced.
Chancellor Jeremy Hunt revealed the change to housing tax in his Autumn Statement today.
It follows a recent cut that means that thousands of homebuyers pay less Stamp Duty.
Jeremy Hunt confirmed in a statement a few weeks ago that the cut to Stamp Duty would remain in place.
But now he has set a date for it to end, as he announced a raft of measures aimed at balancing the books.
He said: "The OBR expects housing activity to slow over the next two years, so the Stamp Duty cuts announced in the mini-budget will remain in place but only until March 31 2025."
Read more on stamp duty
Do first-time buyers pay stamp duty?
Tax rises for millions confirmed by Jeremy Hunt in Autumn Statement
Stamp Duty land tax (SDLT) is a lump sum payment you have to make when purchasing property over a certain threshold.
Ex-Chancellor Kwasi Kwarteng announced the cut to Stamp Duty in his mini-budget in September in a bid to boost economic growth.
Before the cut, no Stamp Duty was paid on the first £125,000 of any property purchase.
That's now double at £250,000 for all home purchases.
The threshold at which the duty was paid for first-time buyers was £300,000. But that is now £425,000.
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