I am sure that you are all waiting to hear….. The stamp duty holiday has been extended! Chancellor, Rishi Sunak, announced today that the SDLT zero threshold remains in force until the end of June. A transitional nil rate band up to £250,000 will be in place until September and then return to £125,000 from October.
The chancellor says he would do “whatever it takes” during the pandemic, and that he has done and will continue to do so. He says there has been acute damage to the economy, with more than 700,000 people losing their jobs, the economy shrinking by 10% – the largest fall in 300 years, and borrowing is highest it has been outside of wartime. “It’s going to take this country, and the whole world, a long time to recover from this extraordinary situation,” he says.