Stamp Duty Holiday

SDLT Threshold rises from £125,000 to £500,000 until 31 March 2021. 


The Chancellor, Rishi Sunak said yesterday (09.07.20) that property transactions had fallen by 50% in May 2020 – with that being the first fall in house prices for eight years.


The solution, he announced is a “temporary cut [in Stamp Duty Land Tax - SDLT] until 31 MARCH 2021".


This means that if you purchase a property between now and March 2021 no stamp duty will be payable if the property that you purchase is valued up to £500,000, with immediate effect.


This could save home buyers many thousands of pounds in SDLT - tax.


Mr Sunak told MPs:


“The average stamp duty bill will fall by £4,500. Almost 9 out of 10 people buying a main home this year, would benefit and will pay no stamp duty at all". 


The measure is designed to boost confidence in the housing market after a distinct slump in transactions and to kickstart the stalled housing market.


Let's hope so.

The information provided in this article is not intended to constitute legal or financial advice. You should take independent legal, accountancy or financial advice before relying on the information in this article or before decisions are made or before you embark on any course of action.


Andrew McArthur 

Penn Financial 

andrew.mcarthur@penngroup.co.uk



Penn Financial is the trading name of Penn Financial Limited registered in England and Wales number 06242576. Registered Office: 13 Austin Friars London EC2N 2HE

  • Penn Accounts
  • Penn Accounts
  • Penn Financial

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE. Penn Financial is directly authorised and regulated by the Financial Conduct Authority (FCA XXXXXX).

© 2020 Penn Financial Limited

A Penn Group Company

Website designed by Penn Tech