Chancellor Rishi Sunak has announced in Budget 2021 speech that the stamp duty “holiday” will be extended till June 30, 2021 in order to mitigate the impact of global pandemic induced lockdown. The move termed as a “massive relief” by the potential buyers especially, the ones who were amidst transactions and striving to complete them before the deadline – otherwise, they would be left with a hefty £15,000 tax bill.
Now let’s discuss in detail that how this holiday will work and what does it mean for the property buyers and potential investors.