Stamp Duty Land Tax Holiday

STMAP DUTY LAND TAX HOLIDAY

The Chancellor has announced today that, with immediate effect, the threshold for payment of Stamp Duty Land Tax has been raised from £125,000 to £500,000 and will remain at this figure until the 31st March, 2021. This means that if you purchase a property up to £500,000, you will not have to pay any Stamp Duty, provided completion takes place by the 31st March, 2021.

Anyone purchasing a second home or a buy-to-let property will also benefit but will still pay the additional 3% duty on the entire purchase price.

Also, if you are in the process of purchasing a property and have not completed, you will not have any Stamp Duty to pay.

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