Changes in Stamp Duty

Looking at purchasing a house at the moment and seems consensus is that stamp duty will be phased out or reduced, but not so obvious when.

If a reduction in stamp duty is announced in the budget this year, when would it normally become applicable- in December once the budget is announced or in the new year? Is a reduction in 2010 budget likely?

If we were to buy now, would relief have to be given for those who purchased shortly before the reduction?

Really appreciate your thoughts,

TBH, unless Brian Cowen himself comes on the forum and replies personally, there is no way anybody can give you advice by which you can base your decision because we're all just guessing.

One thing I will say though - it is highly unlikely that anything will be done in the upcoming budget which would result in the purchase of a house becoming more expensive so I would try and sit tight for the moment.

Would changes on stamp duty/taxation normally be applicable from when they are announced in the budget of December or sometime in the new year? Just wondering if we should stall untill January or later in the new year or just after the budget in December?

The last stamp duty changes applied from the following morning - ie speech on 14-Oct-08, changes took effect from 15-Oct-08

Changes to stamp duty are often back-dated Lioness. Personally, I would advise anyone to wait until prices have dropped further before buying. Of course if you see the house of your dreams at a good price thats a different matter!