Martin Lewis highlights key changes in UK Autumn Budget including stamp duty and child benefit rules
Summary: Martin Lewis has highlighted several lesser-known changes from the recent Autumn Budget presented by Rachel Reeves. Key issues include a rise in stamp duty for second homes and the decision to maintain child benefit eligibility based on individual income rather than household income.
The government will not extend temporary stamp duty thresholds, set to revert in April 2025. This means first-time buyers will face increased costs, with a potential stamp duty charge of £6,250 on properties valued at £425,000.
Additionally, the Help to Save scheme for Universal Credit claimants will be extended until April 2027 and expanded to include all working claimants. However, several anticipated reforms, such as changes to Lifetime ISAs and support for mortgage prisoners, were not addressed in the Budget.
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