Stamp duty saving ends
23
weeks
01
day

Stamp Duty saving ends soon

Earlier this year Chancellor Rishi Sunak announced a major stamp duty cut to help boost the housing market and wider economy after the nationwide lockdown.

Stamp duty is a tax paid when purchasing properties in England and Northern Ireland, with a previous threshold of £125,000. Up to 31 March 2021 this threshold has increased to £500,000 which means properties purchased for £500,000 or less will not be subject to a stamp duty tax.

Act now - The stamp duty holiday will end on 31 March 2021

23
weeks
01
day

Stamp Duty saving ends soon

Earlier this year Chancellor Rishi Sunak announced a major stamp duty cut to help boost the housing market and wider economy after the nationwide lockdown.

Stamp duty is a tax paid when purchasing properties in England and Northern Ireland, with a previous threshold of £125,000. Up to 31 March 2021 this threshold has increased to £500,000 which means properties purchased for £500,000 or less will not be subject to a stamp duty tax.

It means that nearly nine out of 10 transactions will no longer be subject to stamp duty. If you are purchasing a property of £300,000 as a primary residence for example, you will save £5000.

Act now - The stamp duty holiday will end on 31 March 2021

23
weeks
01
day

Stamp Duty Calculator

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This calculator provides a guide to the amount of residential stamp duty you may pay and does not guarantee this will be the actual cost. This calculation is based on the Stamp Duty Land Tax Rates for residential properties purchased after 22 November 2017 to 7 July 2020 then from 8 July 2020 until 31 March 2021. For more information on Stamp Duty Land Tax, click here.

It is important that you act now

This stamp duty holiday has really helped the housing market with huge numbers of buyers looking to take advantage of this saving. This does mean that while properties are going under offer quickly, there are some delays in sales completing due to volumes of properties going through the conveyancing process.

It is especially important to act now if you also have a property to sell and want your buyer to save on the cost of stamp duty. Get your property on the market today to make sure you can sell your existing property and buy your new property before the stamp duty deadline runs out.

In Scotland

Nicola Sturgeon announced a similar holiday for the Scottish Land & Buildings Transaction Tax (LBTT). The threshold is slightly lower with LBTT not payable on properties of £250,000 and under in Scotland. This will also end on 31 March 2021.

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