Rishi Sunak is reportedly preparing to extend the stamp duty holiday which is due to end next month until the end of June.
Rishi Sunak is reportedly preparing to extend the stamp duty holiday which is due to end next month until the end of June.
The chancellor will use his Budget on 3 March to move the tax break in order to bolster the property market as the UK recovers from the economic impact of lockdown, The Times reported.
The government made a vast majority of house buyers exempt from paying the tax on properties worth up to £500,000 until the end of March, allowing people to save up to £15,000 in tax.
The paper said extending the policy could cost the Treasury around £1bn.
It also reported that Mr Sunak was expected to extend the furlough scheme, which is set to end on 30 April, until the end of June as people could return to work – at a potential cost of £4bn each month.
Source: Independent
Articles
Our latest blog articles
Do your rental properties need a landlord licence?
With so many regulations to comply with, it is easy for landlords to overlook, forget or be unaware of certain aspects which are required for their ro...
What You Need To Know Before Becoming A Landlord
With a prominent level of demand for rental property, it is easy to see why some people want to be a landlord. Being a landlord is a fantastic way to ...
How To Enter The Rental Market!!!
How to Enter the Rental Market The real estate market can be fruitful, especially if you have a spare room, house, or set of properties. Becoming ...