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    August 23, 2020
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PROMOTION A Different Kind of Holiday? Whilst foreign holidays are causing anguish and stress, there is one type of holiday that is causing everyone to get excited - the stamp duty holiday! tamp Duty Land Tax is a tax chargeable on every property purchase. In recent years, the amount raised by are wishing to move home and the Treasury from stamp duty has risen substantially and there is no doubt that the payment of stamp duty has been a real brake on the property market. SE Chancellor of the Exchequer and a sliding scale and the liability thus increases as a property becomes more expensive. Prior one which should not be sniffed at. For example, for those who buy a replacement residence for E400,000, the stamp duty payable before 8th July 2020 would have been £10,000. But where the to 8th July 2020, the purchase of a replacement property at a price of E600,000 attracted a stamp duty payment of 20,000. Where legal completion takes place after sth July 2020, the liability is now purchase takes place after 8th july 2020, no stamp duty is payable, so house buyers will be saving a lot of saving of E15,000 money. Even for first time buyers, the savings can be substantial. In Vietoria Bury reduced to E5,000. A whopping Partner WHAT ARE THE CHANGES TO STAMP DUTY? For those of us who have saved a However, for legal completion of purchases that take place between the same example of a purchase 8th July 2020 and 31st March 2021, bya first time buyer at £400,000, stamp duty will only be payable when the purchase price exceeds £500,000. This applies to purchases July 2020. by both first time buyers as well as someone moving from one main small fortune by working at home and eating in rather than eating out, the additional savings from the savings would be £5,000 if legal the stamp duty relief means that there is no reason to delay that completion was delayed after Sth As you can imagine, this level of giveaway goes a long way when purchasing a new home. Stamp duty is calculated on house purchase. So get that new house bought - but be quick - this particular holiday will soon be over and those stamp duty blues will be back. residence to another. This is a substantial gift from the For more information on stamp duty land tax or residential property enquiries, please contact Victoria Bury. Partner, on 01625 442164 or email victoria.bury@sasdaniels.co.uk Offices in Chester, Congleton, Macclesfeld and Stockport (sas daniels LLP www.sasdaniels.co.uk Solicitors PROMOTION A Different Kind of Holiday? Whilst foreign holidays are causing anguish and stress, there is one type of holiday that is causing everyone to get excited - the stamp duty holiday! tamp Duty Land Tax is a tax chargeable on every property purchase. In recent years, the amount raised by are wishing to move home and the Treasury from stamp duty has risen substantially and there is no doubt that the payment of stamp duty has been a real brake on the property market. SE Chancellor of the Exchequer and a sliding scale and the liability thus increases as a property becomes more expensive. Prior one which should not be sniffed at. For example, for those who buy a replacement residence for E400,000, the stamp duty payable before 8th July 2020 would have been £10,000. But where the to 8th July 2020, the purchase of a replacement property at a price of E600,000 attracted a stamp duty payment of 20,000. Where legal completion takes place after sth July 2020, the liability is now purchase takes place after 8th july 2020, no stamp duty is payable, so house buyers will be saving a lot of saving of E15,000 money. Even for first time buyers, the savings can be substantial. In Vietoria Bury reduced to E5,000. A whopping Partner WHAT ARE THE CHANGES TO STAMP DUTY? For those of us who have saved a However, for legal completion of purchases that take place between the same example of a purchase 8th July 2020 and 31st March 2021, bya first time buyer at £400,000, stamp duty will only be payable when the purchase price exceeds £500,000. This applies to purchases July 2020. by both first time buyers as well as someone moving from one main small fortune by working at home and eating in rather than eating out, the additional savings from the savings would be £5,000 if legal the stamp duty relief means that there is no reason to delay that completion was delayed after Sth As you can imagine, this level of giveaway goes a long way when purchasing a new home. Stamp duty is calculated on house purchase. So get that new house bought - but be quick - this particular holiday will soon be over and those stamp duty blues will be back. residence to another. This is a substantial gift from the For more information on stamp duty land tax or residential property enquiries, please contact Victoria Bury. Partner, on 01625 442164 or email victoria.bury@sasdaniels.co.uk Offices in Chester, Congleton, Macclesfeld and Stockport (sas daniels LLP www.sasdaniels.co.uk Solicitors