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Stamp Duty Cut

Stamp Duty Cut

What is it?  

From 8 July 2020 until 31 March 2021, buyers will pay no Stamp Duty on the first £500k when they move home.  

Who is it for? 

Everyone  

How does it work? 

A temporary increase to the Nil Rate Band of Residential SDLT (Stamp Duty) from £125,000 to £500,000 until 31 March 2021. 

The 3% surcharge still applies for the purchase of additional dwellings and the portion between £500,001 and £925,000 will still be taxed at 5% (for those not affected by the surcharge). 

What should I do next? 

Critchleys Clients: If you have specific questions, please contact your Critchleys Accountant directly.

 


First Publsihed 9 July 2020
Last Updated 9 July 2020

9 July 2020
First published

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