Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise. This will help to stabilise the housing market
1. Extend the Stamp Duty Holiday for an additional 6 months after 31st March 2021
08/09/2020 - Petitions
Found: Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to
2. Extending home ownership: Government initiatives
28/12/2017 - Parliamentary Research
Found: BRIEFING PAPER Number 03668, 28 December 2017 Extending home ownership: Government initiatives By Wendy
3. Extending Stamp Duty Holiday until December 31 2021
21/04/2021 - Petitions
Found: Extending the Stamp Duty Holiday until 31st December will assist many buyers who are looking to move
4. Stamp duty land tax on residential property
09/11/2018 - Parliamentary Research
Found: Number 7050, 9 November 2018 Stamp duty land tax on residential property By Antony Seely and Matthew Keep
1. Finance (No. 2) Bill
20/04/2021 - Commons Chamber
1: 5; Clauses 6 to 14 and Schedule 1; Clauses 24 to 26; Clause 28; Clause 30 and Schedule 6; Clauses 31 - Speech Link
2: discuss the following:Amendment 70, in schedule 6, page 121, line 1, leave out “ceases to be” and insert - Speech Link
3: that review before the House of Commons within six months of the passing of this Act.(2) A review - Speech Link
4: that review before the House of Commons within six months of the passing of this Act.(2) A review - Speech Link
2. Stamp Duty Land Tax (Temporary Relief) Bill
13/07/2020 - Commons Chamber
1: bounce-back loan scheme, have carried many businesses through the hardest months, so that they now have a fighting - Speech Link
2: the challenges that still remain in the economy. Many people still face tough times, particularly in the - Speech Link
3: Budget later this year.I turn to the housing market, which is another example of a sector that - Speech Link
3. Finance Bill
17/07/2020 - Lords Chamber
1: Chancellor’s Spring Budget. Although just four months ago, that already feels like a Budget from a different - Speech Link
4. Stamp Duty Land Tax (Temporary Relief) Bill
13/07/2020 - Commons Chamber
1: must lay before the House of Commons within three months of Royal Assent a review of the impact of this - Speech Link
2: to £500,000 from 8 July 2020 and runs until 31 March 2021. If I may, I will speak to clauses 1 and 2, and - Speech Link
5. Public Health (Coronavirus) (Protection from Eviction) (England) (No. 2) Regulations 2021
18/03/2021 - Lords Chamber
1: action in England and will be in force until 31 March this year. It extends restrictions on the enforcement - Speech Link
You may be interested in these active petitions
I am looking to move into a new build which is currently due to complete at the start of March 2021. If this build is delayed past 31st March 2021 then i will not be able to afford the stamp duty so will not be able to afford the house.
The SDLT holiday was designed to be a temporary relief to stimulate market activity and support jobs that rely on the property market. The Government does not plan to extend this temporary relief.
The COVID-19 pandemic and subsequent lockdown caused uncertainty for those buying and selling residential property and property transactions fell by as much as 50 per cent during the first national lockdown. 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 8 July 2020 until 31 March 2021. Since the relief was introduced, transactions have increased and seasonally adjusted data shows that in October 2020, transactions were 8% higher than October 2019.
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.
The Government is committed to supporting home ownership and helping people get on and move up the housing ladder. When the SDLT Holiday ends, the Government will maintain a SDLT relief for first time buyers which increases the starting threshold of residential SDLT to £300,000 for first-time buyers that purchase a property below £500,000. In addition, a new Help to Buy scheme will be introduced from 1 April 2021. This scheme will run until March 2023.
All tax policy is kept under review and the Government considers the views it receives carefully as part of that process.