The Government’s stamp duty holiday ends on 30 September 2021

The temporary Stamp Duty holiday which the Government introduced in 2020 as part of measures designed to aid the economy during the COVID-19 Pandemic changed on 30 June 2021 and will end completely on 30 September 2021.

The Stamp Duty holiday has the effect of reducing, or in some cases negating, the Stamp Duty Land Tax payable to HMRC on completion of all property purchases.

For all property purchases that do not complete on or before 30 September 2021, FULL rates of Stamp Duty Land Tax will be payable to HMRC as under the previous rules, regardless of circumstance.

Please be forewarned that all property transactions have to date been taking longer than usual.  The whole market has been under considerable strain with the dual pressures of the COVID-19 Pandemic slowing processes with, for example, banks (for mortgages), local authorities (for property searches), surveyors, removal companies, other solicitors etc and the unprecedentedly buoyant property market resulting from the Stamp Duty holiday itself.

We retain our full conveyancing team, solely focused on the job we do and the service levels we provide to you, our clients, so we always strive to progress every transaction as best we can but please be aware that we ultimately have no direct control over how quickly your transaction can complete as so much is dependent upon third parties – every transaction has at least one other party (buyer/seller), if not a whole chain of them, and each party is reliant on the aforementioned banks, local authorities, surveyors etc.  It is important to understand from the outset that we can neither guarantee the time your transaction will take, nor can we accept any responsibility for matters outside our control.

Experience generally suggests that there is rarely such thing as a “simple transaction” in property and as we get nearer the 30 September deadline, it is inevitable that stress and frustration will become greater for all involved in the buying and selling of property.

You are best advised to ensure up front that you have sufficient funds available to pay the full rate of Stamp Duty Land Tax on your transaction if needed.