Date Published 04 March 2021
🏠 Its good news for those who are already or who are planning on moving in the near future and as savings are there to be made if you act quickly.
Rishi Sunak has confirmed that the stamp duty holiday will be extended for all property purchases up to £500,000 'will finish at the end of June, rather than the end of March 2021, as previously planned. It will then be tapered until September.
This covers the majority of houses and flats in the UK.
Until 30 September 2021, no stamp duty will be charged on a residential property bought for up to £250,000.
Sunak had been under growing pressure to extend the deadline amid concerns it was creating a cliff-edge and risked thousands of buyers pulling out of transactions if they missed the now previous deadline of 31 March for the tax break.
With the above in mind we advise that if you have any thoughts of moving then time is of the essence as all the the stamp duty extension has done is move the "Cliff Edge" to a future date!
If you need a swift sale of your property or just need a valuation to start the process, please get in touch, 01202 621900 or email poole@lewisdean.co.uk
