As expected, the chancellor announced in yesterday’s budget that the Stamp Duty holiday in England will be extended from 31st March 2021 to 30th June 2021. This will bring a great deal of relief to many buyers in England in these testing times.
So what does this mean for you?
Up to and including 30th June 2021 – Stamp Duty Land Tax will not be payable on purchases up to £500,000 on the basis that they legally complete on or before 30th June 2021.
Up to and including 30th June 2021 – Stamp duty land tax will not be payable on all purchases up to £500,000 on the basis that they legally complete on or before 30th June 2021.
From 1st July 2021 up to and including 30th September 2021 – Stamp duty land tax will not be payable on all purchases up to £250,000 after which tax is payable at the standard rate.
From 1st October 2021 onwards, the threshold will return to £125,000 and tax will be payable on all properties valued over that.
For any purchases that attract the additional property charge, the 3% will still be payable
To guide you through the conveyancing process our experienced team are here to help call on 01457 835597.
