Stamp 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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