24 February 2021

Stamp duty holiday to be extended to June

Could it be? Could the long awaited second instalment of the stamp duty holiday finally be on its way?

Well…

News

According to the latest media reports, Rishi Sunak has plans to extend the UK’s Stamp duty holiday to the end of June.

A recent report by property giant Rightmove has estimated that almost 100,000 home movers will miss out on the current deadline. Albeit good news, will the stamp duty holiday exit still be classed as a ‘cliff edge’?… we hope not!

The current regulations state that in order for you (as a home mover) to take advantage of the stamp duty holiday you must complete on your sale/purchase before 31st March. Many movers have filed complaints as estate agents and solicitors become overwhelmed with enquiries and it seems supply can’t keep up with demand. Delays on all sides of the pond could mean home movers who have set their budget in anticipation for the stamp duty discount, could in fact receive an unfortunate surprise.

We look forward to a new update from Rishi within the next 2 weeks and we will be sure to keep everyone updated!