The chancellor has announced a Stamp Duty Holiday on stamp duty for the first £500,000 of all property sales in England and Northern Ireland.
It has been temporarily raised until next March to help provide a boost to the property market and help struggling buyers after the effects of the lockdown and coronavirus crisis.
The changes have come in with immediate effect and will only apply to buyers in England and Northern Ireland.
Scotland & Wales have their own systems of tax.
Buy-to-let investors will also be able to benefit from the Stamp Duty Holiday but will continue to pay the 3% charge on additional properties.
If you need any advice on how this affects you, your properties and planned purchases please give me call for FREE advice on 01625 548248
Richard Ignatowicz
Sources
You can read the government guidance here
BBC – How Will it Work?
BBC – Winners & Losers
FT – Stamp duty holiday boosts buy-to-let landlords
