Official: There will be no Stamp Duty holiday extension

first_imgThe Government has dashed estate agents’ hopes of an extension or tapering of the Stamp Duty holiday.This body blow for both the industry and thousands of home movers likely to miss Rishi Sunak’s 31st March deadline has been delivered in the Government’s response to a parliament online petition.It passed the 10,000 signatures that forces the Government to respond to these petitions several days ago and has now been signed by 22,635 people.The statement says: “As the relief was to provide an immediate stimulus to the property market, the Government does not plan to extend this relief.Government revenue“SDLT is an important source of government revenue, raising several billion pounds each year to help pay for the essential services the Government provides.“The Government is committed to supporting home ownership and helping people get on and move up the housing ladder.“When the SDLT Holiday ends, the Government will maintain a SDLT relief for first time buyers which increases the starting threshold of residential SDLT to £300,000 for first-time buyers that purchase a property below £500,000.“In addition, a new Help to Buy scheme will be introduced from 1 April 2021. This scheme will run until March 2023.“All tax policy is kept under review and the Government considers the views it receives carefully as part of that process.”Read more about the stamp duty deadline.stamp duty petition Stamp Duty holiday Rishi Sunak sdlt December 16, 2020Nigel Lewis3 commentsJohn Socha, Orchard BMS Ltd Orchard BMS Ltd 19th December 2020 at 12:23 pmSadly, the government is run by “Rich Kids” who have never had to struggle to pay their bills or worry about job security.George Osborne & David Cameron (where are they now?) promised the “Triple Lock” of no increase in VAT, Income Tax or National Insurance Contributions.Boris (another Rich Kid) has promised not to break the Triple Lock.Where else is he going to raise the revenue to pay for Covid-19 measures?Stamp Duty & Capital Gains Tax is his glib answer.Most citizens expect there to be a taxation cost some where at some time.As Boris inhabits in “The Westminster Bubble” and are still wrestling with the EU over fishing, they are totally distracted.Housing is what they call “Low Hanging Fruit” with the repost that those paying the tax are like Rolls Royce drivers complaining about the price of petrol.Select an easy target and squeeze, as Dennis Healey (The last old Labour Chancellor) said in the 1970’s “Squeeze Until the Pips Squeak”.Not fun but a fact of political life.Log in to ReplyJames Gibbs, Gibbs Gillespie Gibbs Gillespie 16th December 2020 at 4:00 pmResponse as expected. Ever since this “tax on housing” was massively increased by previous Chancellor George Osbourne, we have known it was a mistake. Probably the biggest error of his as Chancellor. The Gov’t now know this and the SDLT holiday is a step in the right direction. What the Gov’t says now and does in three months time remains to be seen. HEALTHY HOUSING MARKET = VIBRANT ECONOMY.POOR HOUSING MARKET = RECESSION.Log in to ReplyPeter Everett, Peter Everett Peter Everett 16th December 2020 at 8:57 amWhilst hugely disappointing and frustrating, online auction could be a ‘Plan B’ option for those motivated sellers who want to attract buyers before the 31st March deadline. Please get in touch if you would like to know how Offr could help you run an online auction from your own website.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Official: There will be no Stamp Duty holiday extension previous nextRegulation & LawOfficial: There will be no Stamp Duty holiday extensionMinisters have delivered the body blow to agents and buyers via its response to an online parliamentary petition.Nigel Lewis16th December 20203 Comments7,121 Viewslast_img read more