stamp duty update 2021

<p>Following on from Rishi Sunak’s Budget announced on 3rd March the Stamp Duty Holiday has been extended.</p> <p> </p> <p>Anyone purchasing a house to replace their Main Residence or as a First Time buyer will not pay any Stamp duty up to the house price of £500,000, this will be until June 30th.</p> <p>After 30th June anyone purchasing a house to replace their Main Residence will not pay any Stamp duty up to the house price of £250,000. For First Time Buyers you will not pay any Stamp Duty up to the house price of £300,000. This will be until September 30th.</p> <p>After 30th September the Stamp Duty rates will return to as they were before the Stamp Duty Holiday and Stamp Duty will begin after £125,000 for replacing Main Residence and £300,000 for First Time Buyers.</p> <p> </p> <p>If you are purchasing a property as a Buy to Let or as an additional property then Stamp Duty will be set at 3% up to £500,000 until June 30 2021.</p> <p>After this it will be 3% up to £250,000 from 1 July 2021 to 30 September 2021.</p> <p>Post 30 September 2021 it will then be calculated as per the old rates prior to the Stamp Duty Holiday.</p> <p> </p> <p>The Government has updated their Stamp Duty Website and you can follow this link for more information: <a href="https://www.gov.uk/stamp-duty-land-tax">https://www.gov.uk/stamp-duty-land-tax</a> .</p> <p>More specific information regarding residential properties and buy to let properties can also be found on this link.</p> <p> </p> <p>To calculate the updated Stamp Duty please follow this link: <a href="https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro">https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro </a></p> <p>You may need to clarify your individual position with your Conveyancer or the HMRC directly.</p> <p> </p> <p>If you would like to get in touch with us to provide a quote for Conveyancing services please feel free to dial 0116 2999 199 and select option 0 or email us at info@d-w-s.co.uk.</p> <p> </p>