STAMP DUTY UPDATE

24th February 2021

STAMP DUTY UPDATE

There has been much pressure on the Chancellor to extend the Stamp Duty (SDLT) 'holiday' to ease the backlog of transactions that will not make the current deadline of 31st March 2021

Experts are today saying that (according to a Government leak) that the 'holiday' will be extended to 30th June 2021...?

If adopted, this will be good news for those already purchasing and will ease the backlog on transactions which would not have made the deadline.

The current easing means that residential transactions are exempt from SDLT up to a ceiling of £500,000. This represents a saving of up to £15,000 and that saving also applies to more expensive homes.

Confirmation of the SDLT arrangements will be disclosed in the budget on 3rd March 2021.