Stamp Duty Holiday Announced

In the latest batch of government announcements, chancellor Rishi Sunak has disclosed plans for a ‘Stamp Duty holiday’. In doing so, he will be expanding the threshold for avoiding this tax by 300%. Whilst originally properties selling for £125,000 or less were the only ones to benefit from this, now those selling up to the value of £500,000 can also take advantage.

This change is expected to exempt 90% of main homes sold before this ‘holiday’ ends at the end of March 2021 and could save buyers up to £15,000 (based on the purchase of a £500,000 home). This highlights a fantastic opportunity for new and existing homeowners to take advantage of.

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Poole Townsend solicitors Ltd (Company no:10964550) is a company registered in England and Wales with its registered office at 69-75 Duke Street, Barrow in Furness, LA14 1RP. A list of directors is available at the registered office address. Authorised and regulated by the Solicitors Regulation Authority number 647087. We are independent financial advisers authorised and regulated by the Financial Conduct Authority. VAT registration number :154365563.

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