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Temporary Stamp Duty Land Tax holiday for residential buyers

Chancellor, Rishi Sunak, yesterday announced that there will be a temporary ‘holiday’ on stamp duty land tax for the first £500,000 of all property sales for England and Northern Ireland. This holiday comes into immediate effect and will last until 31 March 2021.

Previously, stamp duty was charged at 0% on the first £125,000 of a property transaction where the property was to be the buyer’s sole property, or 3% if the buyer already owned property. However, from now until 31 March, this £125,000 threshold has been increased to £500,000.
Barwells Solicitors will guide you through the property sale/purchase process. Your best interest is our priority. With us, you are in safe hands. Call us today on 01273 514213

Posted in: Conveyancing

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