Today’s Budget announcement has included the announcement that the Stamp Duty holiday has been extended to 30th June 2021. This is an additional 3 months from the original proposed end date of 31st March 2021.
This means that there will be NO SDLT to pay if replacing main residence and buying for £500,000 or less.
In addition to this, following the end of the Stamp Duty Holiday, NO SDLT will be payable if replacing main residence and buying for £250,000 (“the nil rate band”) or less from 30th June to 30th September. As from 30th September the nil rate band goes back down to £125,000.
If you have any queries about the Stamp Duty Holiday or are in the process of buying a property and would like a quote or further information, please contact our residential conveyancing department on 01904 624903.