It is the perfect time to buy in the UK! Make the most of the Stamp Duty Holiday.
Stamp duty holiday ends 31st March 2021.
These are the new holiday rates:
Up to £500,000: 0%
On the portion from £500,001 to £925,000: 5%
On the portion from £925,001 to £1.5m: 10%
Above £1.5m: 12%
The 3% stamp duty surcharge will apply on top of the new holiday rates, so people buying additional homes will attract a 3% stamp duty bill on the first £500,000 of property. This will still result in a saving, because the 3% rate previously applied on the first £125,000, with higher rates above that.
2% stamp duty surcharge for non-UK buyers is introduced on 1 April 2021.
The new rates will be 2% points higher than those that apply to purchases made by UK residents, and will apply to purchases of both freehold and leasehold property as well as increasing SDLT payable on rents on the grant of a new lease. www.gov.uk