Stamp Duty Land Tax: Coronavirus
(asked on 11th January 2021) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to extend the stamp duty holiday on new homes in response to delays to building work due to the covid-19 lockdown.
This question was answered on 19th January 2021
The temporary increase in the Stamp Duty Land Tax nil rate band was designed to create immediate momentum within the property market, where property transactions fell by as much as 50 per cent during the COVID-19 lockdown in March.
The Government is closely monitoring delays in the building process. As the relief was designed to provide an immediate stimulus to the property market, the Government does not plan to extend this relief.