Stamp Duty changes announced
Wed, Jul 08, 2020
Today there has been great news for the property market, Chancellor of the Exchequer Rishi Sunak has announced that there will be no stamp duty on homes selling for £500,000 or less; this temporary holiday will last until the end of March 2021.
The threshold for 'no stamp duty' therefore rises with immediate effect from £125,000 to £500,000. No details have been released in the Chancellor's speech to MPs about additional homes or higher levels of stamp duty for homes above £500,000.
There will also a £2 billion scheme to improve the energy efficiency of homes, including those owned by landlords.
We will keep you updated