The property market continues to be buoyant thanks to the Stamp Duty (SDLT) holiday extension, announced in the March Budget by Chancellor, Rishi Sunak.
The extension means you can still take advantage of this generous tax relief – which could be worth up to £15,000 – but you need to act quickly.
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When was the original deadline? |
The stamp duty holiday, which was first introduced last July, was due to come to an end on 31 March 2021.
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What are the new deadlines? |
Providing anyone buying a property completes by June 30, 2021, they will not have to pay tax on the first £500,000 of the purchase price.
For homes bought up to a value of £250,000, the extension is even more generous, with the holiday extended until 30 September 2021.
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When will the Stamp Duty holiday end? |
The nil tax rate is the set to return to its usual level of £125,000 from 1 October 2021.
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What action do you need to take? |
The extended deadlines may seem like a long way off, but continuing Covid restrictions mean you need to kick start the conveyancing process as soon as possible.
By selecting the conveyancing solicitor you plan to use before you make an offer, you will save valuable time and be able to get a head start as soon as your offer is accepted.
At Palmers Solicitors, our large Residential Conveyancing team have over one hundred years’ combined experience.
We provide high quality, tailor-made advice and we are never more than a telephone call or e-mail away.
Don’t miss out on stamp duty holiday savings – get in touch with our conveyancing team today.
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