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Stamp Duty holiday details announced
Immediate cut to SDLT as threshold changes to £500,000 until March 31st 2021
Chancellor Rishi Sunak has confirmed that the Stamp Duty threshold will be increased to £500,000 immediately until March 31 next year.
Sunak confirmed rumours of the Stamp Duty holiday during his summer economic update this afternoon.
The aim is to boost the housing market and the wider economy to help the UK recover from the consequences of the coronavirus pandemic.
It comes after the property market was effectively closed between the end of March and mid-May.
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