Stamp duty holiday ended
In the Chancellor's budget statement on 3 March 2021 an extension to the Stamp Duty Land Tax (SDLT) holiday was announced. From 1 October 2021 the basic stamp duty rate reverted to the standard rates that were in place prior to 8 July 2020.
Stamp Duty Land Tax returns to standard rates
- The ability to pay no stamp duty on purchase-prices up to £500,000 expired on 30 June 2021. Buyers successfully completing on qualifying properties within this time benefited from a saving of up to £15,000.
- Anyone that completed a purchase between 1 July and 30 September 2021 paid no stamp duty on purchase-prices up to £250,000.
- From 1 July 2021 the special rules and rates for first time buyers apply, including first time buyers purchasing property with shared ownership.
- From 1 October 2021 the basic stamp duty rate reverts to the standard rates that were in place prior to 8 July 2020.
Use the government's Stamp Duty Land Tax Calculator to work out how much tax you'll pay on your purchase.