Budget 2021: Solicitors react to stamp duty confirmation

The stamp duty ‘holiday’ extension announced by Rishi Sunak today will add more pressure to an
already overstretched residential property sector, solicitors have warned. Delivering his budget statement to the Commons, the Chancellor said the stamp duty land tax break would now end on 30 June instead of 31 March. To ‘smooth the transition back to normal’, the nil rate band will be £250,000 – double its standard level – until the end of September. The government will return to the usual level of £125,000 from 1 October.

Hema Anand, Partner in our residential property team, comments on this subject in an article for The Law Society Gazette.

The full article is available, here.