Hints of Stamp Duty Extension
01
March, 2021
HINTS OF EXTENDED STAMP DUTY
Look out home buyers for news of Stamp Duty extension
Strong hints that the Chancellor, Rishi Sunak will extend the Stamp Duty holiday in the budget on March 3rd is welcome news for home buyers.
The tax break – which can save buyers up to £15,000 – had been due to end at the end of March but is now expected to be extended until the end of June in line with other measures to support the economy.
Which means anyone contemplating a move could now have four months to find their next home – plenty of time to complete the searches and the paperwork and be happy in their new home for summer.
Sales director Craig Lynch said: “The deadline of the end of March has put a lot of pressure on the whole system as people rushed to complete. Extending until the end of June allows those who thought they had missed out to relook at properties and pursue their purchase.
“We have a clear build programme on all our sites and have a portfolio of properties that are on schedule to be completed for the end of June enabling buyers to take advantage of this significant tax saving.
“There is a suggestion that the benefit may be tapered to only apply to transactions agreed before the March deadline so anyone who had been considering a move should get in touch as soon as possible so they don’t miss out this time.”
The Stamp Duty holiday cuts the bill entirely on properties costing between £125,000 and £500,000 and reduces it on homes over £500,000.
Strong hints that the Chancellor, Rishi Sunak will extend the Stamp Duty holiday in the budget on March 3rd is welcome news for home buyers.
The tax break – which can save buyers up to £15,000 – had been due to end at the end of March but is now expected to be extended until the end of June in line with other measures to support the economy.
Which means anyone contemplating a move could now have four months to find their next home – plenty of time to complete the searches and the paperwork and be happy in their new home for summer.
Sales director Craig Lynch said: “The deadline of the end of March has put a lot of pressure on the whole system as people rushed to complete. Extending until the end of June allows those who thought they had missed out to relook at properties and pursue their purchase.
“We have a clear build programme on all our sites and have a portfolio of properties that are on schedule to be completed for the end of June enabling buyers to take advantage of this significant tax saving.
“There is a suggestion that the benefit may be tapered to only apply to transactions agreed before the March deadline so anyone who had been considering a move should get in touch as soon as possible so they don’t miss out this time.”
The Stamp Duty holiday cuts the bill entirely on properties costing between £125,000 and £500,000 and reduces it on homes over £500,000.