The Chancellor Rishi Sunak today announced:
“An immediate stamp duty holiday for homes sold for up to £500,000 in England and Northern Ireland, until 31 March 2021”.
This is great news for the housing market. All buyers will benefit from this because the Stamp Duty Holiday is available on the first £500,000 for all values of property. It is also available to Landlords looking to increase their Buy to Let portfolio, although investors or owners of additional properties will still be subject to the additional 3% Stamp Duty Surcharge on the entire purchase price.