The chancellor has announced a temporary holiday on stamp duty on the first £500,000 of all property sales in England and Northern Ireland. The tax threshold has been temporarily raised until next March to boost the property market and help buyers struggling because of the coronavirus crisis.
The changes have come in with immediate effect.
Anyone completing on a main residence costing up to £500,000 between 8 July and 31 March will not pay any stamp duty, and more expensive properties will only be taxed on their value above that amount. This will save buyers as much as £15,000, if they are buying a property of £500,000 or more.
In summary, this is a great time for anyone interested in buying or selling a property. To find out how we can help, please contact us on 01262 672576 or by email at “firstname.lastname@example.org”