The 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.
“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.