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Stamp Duty Holiday and what it means for you

POSTED ON 11 JULY 2020

On Wednesday, Rishi Sunak announced a Stamp Duty Holiday until March 2021.

As part of the government’s plans to boost the economy, especially the property market, Sunak has increased the stamp duty threshold to £500,000 for property sales in England and Northern Ireland.

This means anyone completing on a main residence under £500,000 from now until the 31st March 2021 will not pay any stamp duty, and anyone completing on a property over £500,000 will only be taxed on the amount above £500,000. A move which could save buyers as much as £15,000.

What does this mean for you as a buyer or a seller? Contact us today to find out more…

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