Stamp duty holiday: Savings are still to be had!

Published 6th August 2021

Stamp duty holiday: Savings are still to be had!

Over the last year, the property market has revolved around the stamp duty holiday. Following the announcement in July 2020, fresh energy swept the market as buyers raced to benefit from the savings. While the market was busy, onlookers nervously anticipated the impact the holiday deadline might have. Even with the original deadline extended by an additional three months, fears of a cliff edge were voiced. However, as we have reached and now passed the first stamp duty holiday deadline, the market has sustained its pace.

How much can I save under the tapered stamp duty holiday deadline?

Until June 2021, the nil-rate band for stamp duty land tax was £500,000. This meant anyone buying a main residence up to this value would not have to pay additional tax. Following this deadline, the nil-rate band has dropped to £250,000. This means more buyers will have to pay the stamp duty fees, as fewer properties fall under this price point. Despite the drop, there are still savings to be had!

How can I have the best chance of completing in time?

If you are looking to benefit from the savings afforded by the tapering of the stamp duty holiday, the final deadline is fast approaching. However, there are things you can do to give yourself the best possible chance of completing in time.

How the stamp duty holiday taper can help you save!

Although the first stamp duty holiday deadline has passed, that does not mean savings are not still available. They may be less applicable depending on the property value, but thousands of homebuyers still stand to benefit. By following the measures outlined above, you can give yourself the best chance of completing in order to save!

About Home Legal Direct:

Home Legal Direct is an online conveyancing and survey network that connects you to expert conveyancers, fast! Our panel of quality conveyancing firms facilitates fast and smooth transactions for all our customers. We utilise modern technology to form our innovative portal and provide you with features such as live case tracking, so you can get updates in real-time for our clients, whatever your conveyancing needs.


Our use of cookies

We use cookies to improve your experience of our website. These contain no personal data. We use analytics cookies to help us make improvements by measuring the way you use the site. Certain cookies help the site to perform predictably. Without them the site may not work properly. You are free to disable them in your browser settings. Accept and dismiss  Reject and dismiss