The possible extension of the stamp duty holiday rejected!!22 December 2020
The recent petition by estate agents and members of the public alike for the extension of the stamp duty holiday reached the landmark ten thousand signatures, prompting a government response on the 10th December 2020:
“To stimulate immediate momentum in the property market and to support the jobs of people whose employment relied on custom from the property industry, the Government decided to introduce a temporary Stamp Duty Land Tax (SDLT) relief. This relief increased the starting threshold of residential SDLT from £125,000 to £500,000 from the 8th of July 2020 until 31st March 2021.
As the relief was to provide an immediate stimulus to the property market, the Government does not plan to extend this relief. SDLT is an important source of government revenue, raising several billion pounds each year to help pay for the essential services the Government provides.”
Despite the large amount of support the movement to extend the stamp duty holiday has gained, with the official petition currently at over 28,000 signatures, the government has so far rejected the appeal, meaning the Stamp Duty Holiday is still set to end on the 31st March 2021.
There is still time to reach completion and beat the deadline to get your property sold. Be sure to come and meet our in-house expert Sam Samad, who has over 20 years of experience in the property industry.
He will start with a free valuation which will include a thorough market appraisal explaining the current market trends – so that you get an accurate indication of what the market projects your property is worth. Then he will walk you through Estateology’s proven success: the Guide Price, which has a lower end and a higher end, attracting three sets of prospective buyers. He will also explain to you a detailed, preemptive plan highlighting how you will reach completion by March the 31st. Once the process has started, he will liaise with all necessary parties to ensure everyone stays on track, whilst also keeping you informed with regular updates.
Do not be afraid of starting the process now, Come and work with the best Estate Agent in E2 for 2020, and allow us to help you beat the March 31st stamp duty holiday deadline.