The Chancellor announced in the March 2021 budget that the Stamp Duty Land Tax Holiday for residential property has been extended for a further three months. This is excellent news for those of our clients whose transaction would not complete by the 31st March 2021. Any property under the sum of £500,000.00 will continue to have the nil rate banding applied as long as completion takes place prior to the 30th June 2021.

From 1st July 2021 any property under the sum of £250,000.00 will continue to have a nil rate banding applied up until the 30th September 2021. For any property over the sum of £250,000.00 the standard rates of Stamp Duty will apply.

From 1st October 2021, all transactions will be subject to the original standard rates of Stamp Duty as set out in the table below.

Standard rates of Stamp Duty:

Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

If you have any queries in relation to the new rules regarding the Stamp Duty Holiday, please do not hesitate to contact the Conveyancing Department or use our enquiry form

It is widely acknowledged that buying and/or selling your home can be a very stressful experience, reportedly ranking close to divorce and bereavement. At Risdon Hosegood our team of experienced property lawyers understand the stresses and emotions involved and by listening to your needs, dealing with your transaction in a proactive and timely way whilst keeping you informed of progress we look to minimise the stress to you, our client.

We are pleased to assist with all aspects of residential and commercial conveyancing including:

  • Freehold and leasehold sales and purchases
  • Shared ownership
  • Auction sales and purchases
  • Mortgages and equity release
  • The granting of new leases
  • Transfers of equity
  • Landlord and tenant matters
  • Lease extensions
  • Right to Buy
  • Help to Buy
  • Boundary disputes

Risdon Hosegood is both Lexcel accredited, having been awarded the legal practice quality mark for excellence in legal practice management and excellence in client care and is also member of the Law Society’s Conveyancing Quality Scheme, the only recognised quality standard for conveyancing.

We will provide you with a realistic estimate of costs at the outset/fixed fee quote (as appropriate) in order that you can accurately calculate your costs and make your financial arrangements accordingly.