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Stamp Duties

Volume 475: debated on Thursday 1 May 2008

To ask the Chancellor of the Exchequer (1) when the scheme for stamp duty tax relief on new zero-carbon homes will expire; (203112)

(2) what estimate his Department has made of the number of (a) houses and (b) flats which will attract the stamp duty tax relief on new zero carbon homes during the scheme’s duration.

We expect the numbers of qualifying transactions for both houses and flats to be initially low but to rise as more properties eligible to claim the relief go on the market. For example, in December 2007 the Government announced details of 200 new homes to be built to a zero-carbon standard in Hanham Hall, near Bristol. The media release can be found at:

http://www.communities.gov.uk/news/corporate/611694

The stamp duty land tax relief for new zero carbon homes is time limited for five years until 30 September 2012 but before the end of the time limit the Government will review the effectiveness of the relief and consider the case for an extension.