News
The stamp duty holiday has been extended in England for three months. Chancellor Rishi Sunak has announced that the stamp duty holiday is extended until 30th June.
Initially, the government has temporarily increased the amount at which stamp duty is paid to £500,000, for property sales in England as well as in Northern Ireland. The temporary increase was due to end on March 31. The move came after a petition signed by more than 150,000 people for a stamp duty holiday extension. The extension will help people who are stock in length backlogs for mortgages, legal reports, and surveys to benefit from the tax saving.
Now, thousands of homebuyers who were in danger of missing the stamp duty holiday deadline should qualify for the exemption. The stamp duty holiday means that home buyers will pay no purchase tax on the first £500,000 of the value of the property. This saves homebuyers up to £15,000. The extended tax break is only up to June 30. After that, the threshold for stamp duty will be moved down to £250,000 until September 30. And the stamp duty will return to the usual level of £125,000 after September 30.
If you are planning to move, Bluestone Properties is a estate agency in south London. We provide lettings and property management in south London and surrounding areas. If you need our help, feel free to contact Bluestone Properties at 0208 355 3405, email us at info@bluestoneproperties.com
