Stamp duty holiday extended to end of June


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The stamp duty holiday on house purchases has been extended for a further three months, Chancellor Rishi Sunak announced in his Budget. The property purchase tax has been suspended on the first £500,000 of all sales in England and Northern Ireland since July. The tax break for will now continue until the end of June. After that the nil rate band will be set at £250,000 - double its standard level - until the end of September.


Rishi Sunak told MPs the extra move was "to smooth the transition back to normal - and we will only return to the usual level of £125,000 from October 1".


The stamp duty holiday was introduced to help buyers who might have taken a financial hit because of Covid. It was also intended to boost a property market hit by lockdown.

During the stamp duty holiday there has also been some relief from the equivalent taxes for property buyers in Scotland and Wales - which is set to end on 31 March.



To read this article in full please click here which will take you to the BBC's website.

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