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UPDATE ON STAMP DUTY

Now the Stamp Duty Holiday has ended we thought an update would help. 

Stamp duty key dates and changes:

1st July 2021: From 1st July until 30th September, there is a staggered return to previous stamp duty rates. During this time, many buyers of a main home in England won't pay any stamp duty on the first £250,000 of the purchase price. 

30th September 2021: You must complete a property purchase by 30th September to benefit from the staggered extension of the stamp duty holiday rates. 

1st October 2021: Stamp duty rates are due to return to the levels which were in place prior to 8th July 2020. 

The stamp duty change meant there were no stamp duty tax to pay for first time buyers and home movers on purchases priced at or below £500,00 before 30th June. The amount of stamp duty tax you'll need to pay depends on many factors, including how much you pay for the property, the location of the property, your citizenship, when you buy and your position in the market - For example: Investor or First Time Buyer. They also look at if you're buying a main home, a holiday home or a property investment. 

Helpful Stamp Duty Links: 

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

https://www.gov.uk/stamp-duty-land-tax/reliefs-and-exemptions

https://www.gov.uk/guidance/stamp-duty-land-tax-relief-for-land-or-property-transactions#first-time-buyers-relief

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