Stamp Duty Land Tax Holiday Update Will end of the stamp duty holiday damage the property market? The temporary Stamp Duty Land Tax (SDLT) holiday was created to help boost the housing market, by saving buyers Stamp Duty on properties valued under £500,000. This created the busiest housing market of the decade, with XYZ Law […]
It may take a while before we start doing things like we did before, and it is already clear that some habits will have changed for good. A romantic outing without the kids at our favourite restaurant turned into a takeout for the whole family delivered to the door during the lockdown. It might not be romantic, but it might be the new normal, at least for now.
Historically, it was possible to avoid or defer payment of the stamp duty property tax (SDLT) on land purchases by leaving the transaction “contract-based”, meaning that the contract of purchase of a property would be exchanged and the purchase price would be paid by the buyer to the seller but the actual transfer of the legal interest in the property would not pass to the buyer.