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
East London landlord is first to get Covid fine
After being fined £1,000 and banned from letting out his property for three months after his tenant rented it as a short-term let to partygoers. A ...
What Makes Rental Property Unfit For Human Habitation?
With the Homes (Fitness for Human Habitation) Act in force, it is vital landlords offer rental property which is fit for human habitation. However, wh...
Team Focus – Rashid Talati
Procurement Officer, Rashid Talati offers tips and guidance on procuring buy-to-lets. On a tour of a 3 bed ground floor flat, Rashid hi...