SDLT Holiday Extended - officially (Budget2021)
There had been lots of reports in the press recently about an expected extension to the SDLT holiday. This was balanced by many reports saying it wouldn't be.
It is now official that the current £500k SDLT holiday WILL be extended from the previous deadline of 31 March 2021 to 30 June 2021. After this, the holiday is further extended but to a lesser degree of £250k until the end of September 2021. After this date, it's back to the old pre-Covid rules of 0% on the first £125k.
The effect of missing the £500k 0% rate is somewhat lessened by the £250k 0% rate but will there still be purchases that fall through if they don't complete by the end of June? The need to budget (no pun intended) for a potential SDLT increase, if there are delays in your purchase, is just as important as ever.
If you need help with your SDLT planning, or are in need of a conveyancer to help with a purchase (or sale), please contact Gepp Solicitors and we will be pleased to talk with you. We can be reached on 01245 228125 or PrivateClientEnq@gepp.co.uk.
This is not legal advice; it is intended to provide information of general interest about current legal issues.