Stamp duty holiday deadline extended in Spring Budget.
Today, the government announced that the temporary stamp duty holiday in England and Northern Ireland had been extended until the end of June.
Hopefully, the news will come as a relief to those buyers and sellers who have been desperately trying to get their sale completed in time to meet the previous deadline of the 31st of March.
What is the temporary stamp duty holiday?
The temporary stamp duty holiday, first announced by the government on the 8th of July last year, means that if you are buying a home up to the value of £500,000, you will not pay any stamp duty. The extension means you now have until the 30th of June to complete on the purchase to make the stamp duty saving. Then, to smooth the transition back to normal, the nil rate band will be £250,000, double its standard level, until the end of September. It will return to the usual threshold of £125,000 on the 1st of October.