Breaking News – Update on Stamp Duty Debate in Parliament

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richmor

A one-minute news special!

They rarely agree about anything, but MPs from different parties were singing from the same hymn sheet during this afternoon’s virtual House of Commons debate around extending the Stamp Duty holiday.

The debate was triggered by an online public petition that wants to see a six-month extension to the existing deadline of 31 March. And nearly every MP who spoke during the 70-minute discussion favoured adding at least a further six months or staggering the deadline so that more people can benefit from the tax break.

How has today’s debate impacted sellers and buyers in Loughborough, Charnwood, East Leake and South Notts?

To be honest, nothing has changed, but the pressure is building on the treasury to act, mainly because the property market generates enormous tax income and millions of pounds worth of home sales are in the balance.

We’re now all playing a game of wait and see until Wednesday 3 March when the Chancellor Rishi Sunak will reveal the Government’s decision.

If you have any questions about the Stamp Duty holiday and what it means to your moving plans, please get in touch with me and my team in all the usual ways!

Thanks as always for reading
Richard

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We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring are carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal who will contact you once you have agreed to instruct us in your sale or had an offer accepted on a property you wish to buy. The cost of these checks is £60 (incl. VAT), which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. This fee will need to be paid by you in advance of us publishing your property (in the case of a vendor) or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal, and is non-refundable.  We will receive some of the fee taken by Lifetime Legal to compensate for its role in the provision of these checks.