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
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.