Save up to £2,500 in Stamp Duty
You can still make a saving until the end of September!
You can still save up to £2,500 in stamp duty if you buy a home before the end of September.
The full stamp duty holiday has now drawn to a close but there’s still a tax break available on the first £250,000 of a property purchase until the end of September. Chancellor Rishi Sunak extended the stamp duty holiday earlier this year.
It meant that buyers in England and Northern Ireland would not have to pay stamp duty on the first £500,000 of property if they complete – in other words, legally transfer ownership – before 30 June 2021. To avoid a ‘cliff edge’ at the end of this period, the threshold at which stamp duty kicks in then dropped from £500,001 to £250,001 until 30 September 2021.
Normal stamp duty rates will apply from 1 October 2021. It’s worth remembering that there’s stamp duty relief available for first-time buyers beyond the current stamp duty holiday.
So... Yes, there’s still a window of opportunity to secure a stamp duty saving. But if you're looking to complete on your property purchase by the end of September, when the tax break is wound down completely, you'll need to have your ducks in a row well beforehand.