Law firm Thomson Snell & Passmore comments on stamp duty changes

Rebecca Swain, head of conveyancing at law firm Thomson Snell & Passmore comments on stamp duty changes announced by the Chancellor, Rishi Sunak.

“I welcome the news that the Chancellor is backing the housing market to aid the country’s financial recovery.  By temporarily increasing the threshold from £125,000 to £500,000, a large number of buyers will no longer face having to pay SDLT and others will make savings of thousands of pounds.  The stimulus will benefit first time buyers and home-movers alike.  The saving takes effect immediately and will last until 31 March 2021.  We await the finer details, but this a definite boost to the housing market.”

Kindly shared by Thomson Snell & Passmore Solicitors