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The temporary Stamp Duty holiday, first announced by the Government on 8 July 2020, means that if you are buying a home to the value of £500,000 you will not pay any Stamp Duty.
You now have until 30 June to complete on a purchase to make the Stamp Duty savings.
Some further good news is that the nil rate band for Stamp Duty will be £250,000, double its current level, until the end of September.
It will return to the usual threshold of paying stamp duty over £125,000 as form the 1 October.
In Wales, temporary Land Transaction Tax reductions are set to end on 31 March. The Chancellor may revise that timescale.
If you require any further information or advice on the above please do not hesitate to contact our specialists by email at firstname.lastname@example.org.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute, legal advice, and should not be relied upon as advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. All content was correct at the time of publishing. Legal advice should always be sought in relation to specific circumstances.