Seymours

Stamp Duty Cut – Are you ready to make your move?

House buyers received some fantastic news today as the Chancellor of the Exchequer, Rishi Sunak, announced that Stamp Duty Land Tax would be scrapped on all home purchases under £500,000 with immediate effect.

It’s said that this move will come to benefit 9 in 10 homebuyers who will no longer have to pay anything at all and will also slash  £4500 on average from other Stamp Duty bills. Previously the threshold for paying Stamp Duty was £125,000, so this is a marked difference and is very encouraging to see.

This tax cut came as a response to the impact that the coronavirus pandemic has had on the property market, and we really appreciate seeing it. We expect to see a boost in property sales over the coming months and know that the market will thrive once again.

This relief will only last until 31st March, so it’s best to take advantage of it sooner rather than later. If you’ve taken a financial hit because of the coronavirus crisis, then this move is aimed at helping you. So get in touch with us today and see how we can assist you in finding your new home.