The Stamp Duty Land Tax Holiday has been extended to 30th June 2021. This is an extension from the previous deadline of 31st March 2021. From 30th June 2021, the threshold will drop to £250,000 until 30th September 2021. Stamp duty thresholds will return back to normal levels from 1st October 2021.
This means that if you’re currently stuck in a housing chain, you have an additional three months to complete on your purchase and take advantage of the stamp duty holiday before 30th June 2021.
These changes will only apply in England and Northern Ireland.
Why has the stamp duty holiday been extended?
The extension comes as a result of industry experts campaigning to extend the stamp duty holiday for those who are currently buying a home that won’t complete their transactions by the 31st March 2021.
The intention of extending the deadline is to allow those already in a housing chain to complete in time. Many current homebuyers have been worried over recent weeks whether their transaction would complete before the previous deadline, which could be the difference of thousands of pounds were they to miss it.