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Home » Latest News » Extension to the Stamp Duty Land Tax Holiday:

Extension to the Stamp Duty Land Tax Holiday:

Extension to the Stamp Duty Land Tax Holiday:

The Chancellor has announced that the Stamp Duty Land Tax (SDLT) holiday introduced last summer has been extended. The holiday was due to end on 31st March 2021 but will now run until 30th June 2021.

The announcement means that (subject to circumstances).:

- Until 30th June 2021, if you are completing a purchase of up to £500,000 you will not have to pay any stamp duty;
- From 1st July 2021 to 30th September 2021, no stamp duty is payable up to a purchase of £250,000 (or £300,000 for first time buyers).
- From 1st October 2021, the rate shall revert to previous levels.

SDLT is usually payable upon purchase of residential property or land in England or Northern Ireland with the zero-rate threshold previously set at £125,000 (or £300,000 for first time buyers) with a tiered system as the price increases.