Stamp Duty Land Tax- Changes 8 July 2020

The Chancellor, Rishi Sunak, has today announced that the Stamp Duty Land Tax threshold for a Stamp Duty liability on a purchase of a property will increase from £125,000.00 to £500,000.00 with immediate effect.  The temporary Stamp Duty Land Tax holiday will last until 31^st March 2021.

At this time it is unclear as to whether this will apply to second homes or not; more details to follow.

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This post was written by Colemans Solicitors LLP