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SDLT holiday homes
Key points
- All regions of the UK will reduce their stamp duty or land transaction taxes until 31 March 2021.
- In England and Northern Ireland a nil rate will apply to purchases of up to £500 000 (for transactions on which the 3% surcharge does not apply).
- The 3% surcharge will still apply.
- Companies and second home buyers can also benefit as the 3% threshold has also been extended to £500 000.
- A claim for multiple dwellings relief may not always be beneficial during the holiday period.
- SDLT rates for non-residential properties are unchanged.
The government has announced a ‘stamp duty land tax holiday’ until 31 March 2021 in attempt to revive the residential housing market in reaction to the Covid-19 pandemic. The phrase ‘holiday’ is slightly misleading because...
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