The government has confirmed that it does not plan to extend the current stamp duty holiday offered to house buyers beyond the March deadline despite mounting pressure.
Editorial Team | 15th December, 2020
More than 22,000 people have signed a petition calling for the government to extend the current stamp duty holiday which was launched in July his year and is set to expire on 31st March 2021, by an additional six months. The petition states: “Extending the stamp duty holiday for an additional six-months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise. This will help to stabilise the housing market.”
Responding to the petition the government said: “The Stamp Duty Land Tax (SDLT) holiday was designed to be a temporary relief to stimulate market activity and support jobs of people whose employment relied on custom from the property industry."
“ 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 stressed it is committed to helping first time buyers and a new Help to Buy scheme will be introduced from 1 April 2021, this scheme will run until March 2023.