< Back to blog

House of Commons to debate extension of Stamp Duty Holiday Posted On 18 January 2021

 

Big week ahead for home buyers as the Chancellor considers a Stamp duty holiday extension

 

A petition to extend the Stamp Duty Holiday for an additional six months has reached over 110,000 signatures, and the House of Commons has now confirmed that there will be a debate on the issue.

 

The Chancellor Rishi Sunak is currently considering an extension despite other reports to the contrary over the weekend. This will be a welcome relief to buyers, sellers, agents, conveyancers and sales progressors who are dealing with delays in the sales process.

 

The current deadline of the 31st March is only 10 weeks away, and with the average sale currently taking 16 weeks to go through, it is unlikely that its effects will be felt for much longer, and for those currently going through the process it is a very stressful time.

 

Sunday Times political editor Tim Shipman says the upcoming Budget on the 3rd March is unlikely to produce permanent changes to property taxation but he warns the treasury is considering long-term radical options including the possibility of scrapping SDLT completely.

 

This week will be a big week for many families who are already in the process of buying a property and if an extension comes through expect a huge sigh of relief from everyone involved and a probable upturn in sales agreed much like the boost that happened last year when the Stamp Duty Holiday was initially started.

 

For all the latest up-to-date news regarding the property market and the Stamp Duty Holiday, please like and follow our social media page.

< Back to blog

Connect with us

Recent Posts

If music be the food of love…

Play on or listen on- do music your way   What are your plans for Monday 21st June? Will you compose a new piece on the piano? Choose some calming zen pieces to accompany your yoga practice? Browse Spotify for a new artist to explore? Why? Because 21st June marks World Music Day- an art …

Read more...

England will need nerves of steel in Euros showdown

Expect Scotland’s underdogs to bare their teeth in Group D clash   Ever since Robert the Bruce gave King Edward II a good seeing to at Bannockburn more than 700 years ago this month, relationships been England and Scotland have been a bit spicey. Not that they were over-cordial beforehand, but by defying the odds …

Read more...

Taking the indoors-outdoors

Making the most of your space   With warmer weather approaching, now is the perfect time to re-vamp your outside space ready for entertaining. The first thing to look at is the size and orientation of your garden. What do you want to use the space for, entertaining (dappled sun or shade is often best …

Read more...

Home is where the heart is

Even if you can’t remember which box you put it in!   Moving house is well known to be one of the most stressful things you can do, yet the lure of a new home is almost impossible to ignore. With the 30th June ‘end of stamp duty holiday’ deadline fast approaching, many are frantically …

Read more...