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Coronavirus News: Rishi Sunak announces temporary suspension of Stamp Duty to March 2021

Coronavirus News:  Rishi Sunak announces temporary suspension of Stamp Duty to March 2021

In a move that the UK hasn't seen since 2008, during the financial economic downturn, home purchasers will no longer have to pay Stamp Duty Land Tax (SDLT) - a levy that applies to all purchases of residential properties - below the property value threshold of £500,000. 

Stamp Duty Land Tax (SDLT) is usually paid on increasing portions of the property price above £125,000 when you buy residential property, for example a house or flat.

Here's the comparison chart on the changes to the rates: 


[Note: different SDLT charges apply to leasehold and second property purchases, in addition there are first time buyer allowances.]

Sharon Sangha

Sharon Sangha, Associate Director and Head of Conveyancing at Lawson-West Solicitors said of the announcement:

"The Chancellor is obviously very keen to keep the housing market going. The SDLT temporary suspension could mean as much as £15,000 is saved when purchasing a £500,000 value home. That's a big sum to many people and could easily be the difference between moving home and not moving home. I'm very pleased to see this positive step."


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Coronavirus:  We are pleased to announce we are Open for Business

Even during Leicester’s most recent, extended lockdown, you can be assured that it is ‘Business as Usual’ at Lawson-West and we're here to help you with your legal needs. 

We are driven by our commitment to help others. We are here. For you.

At this time, please contact us by telephone, website enquiry or email.
We’re here to help:

4 Dominus Way, Meridian Business Park, LE19 1RP           Tel: 0116 2121000

44 Long Street, Wigston, LE18 2AH                                              Tel: 0116 2121080

Market Harborough
Millers House, Roman Way,
Market Harborough, LE16 7PQ                                                        Tel: 01858 445480



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