The current Stamp Duty Land Tax (SDLT) holiday first introduced on 8 July 2020 following the first covid19 lockdown comes to a partial end on 30 June 2021 when the zero rate for transactions up to £500,000 is removed.
This will be replaced by a zero rate for transactions up to £250,000 until 30 September 2021 after which, they will revert to the pre-lockdown rates.
Therefore there is still an opportunity to make a saving of up to £2,500 in tax on a property purchase if you complete your transaction before 30 September 2021. This applies to homebuyers and investors alike.
However, with the average time for the conveyancing process still taking around 3 months from sale agreed to completion, time is running out to make the saving.
