The Stamp Duty deadline is currently set to expire soon, and needs support to extend the date. Extending the date will allow the affected vendors to manage their affairs and finances better. There is currently a petition circulating, to ask Parliament for an extension to the date. It needs more signatures to be considered. Currently, in an official message, the government stated that it was not looking to extend the date of the deadline. The petition must gain support in order to be considered.

Key Takeaways:

  • Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise.
  • Parliament considers all petitions that get more than 100,000 signatures for a debate.
  • The SDLT holiday was designed to be a temporary relief to stimulate market activity and support jobs that rely on the property market. The Government does not plan to extend this temporary relief.

“It is only fair that vendors already in a chain are given the opportunity to take advantage of the Stamp Duty holiday that will have encouraged them to commit to their home move and organise their finances.”

Read more: https://www.focalagent.com/estateagentblog/support-extension-to-stamp-duty