{"id":8739,"date":"2020-07-08T13:41:40","date_gmt":"2020-07-08T13:41:40","guid":{"rendered":"https:\/\/coppenwall.com\/hub\/?p=8739"},"modified":"2023-12-22T20:22:18","modified_gmt":"2023-12-22T20:22:18","slug":"stamp-duty-scrapped-on-homes-under-500k-until-march-2021","status":"publish","type":"post","link":"https:\/\/coppenwall.com\/hub\/2020\/07\/08\/stamp-duty-scrapped-on-homes-under-500k-until-march-2021\/","title":{"rendered":"Stamp Duty Scrapped on Homes under \u00a3500k until March 2021"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 20px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p>This bold move was announced as part of the chancellor\u2019s emergency mini-budget to head off a feared explosion in unemployment as the&nbsp;coronavirus pandemic&nbsp;hits harder.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Stamp duty&nbsp;has been scrapped immediately for all homes under <strong>\u00a3500,000<\/strong>, to kickstart the housing market.<\/p>\n\n\n\n<p>This is fantastic news to anyone buying a new home. As the stamp duty holiday applies from midnight last night, which means that anyone completing a purchase of a main residence today up until 31 March 2021 will get the benefit.<\/p>\n\n\n\n<p>This could be worth nearly <strong>\u00a315,000<\/strong> for a property priced at just under the <strong>\u00a3500,000<\/strong> top limit.<\/p>\n\n\n\n<p>Homebuyers purchasing something pricier, for more than half a million pounds, will still get the benefit of the cut.<\/p>\n\n\n\n<p>They have to start paying the duty at <strong>5%<\/strong> for the amount paid above <strong>\u00a3500,000<\/strong>, rising to <strong>10%<\/strong> and <strong>12%<\/strong> for the most expensive homes.<\/p>\n\n\n\n<p>But it still means they pay less than before. Of course, if you bought yesterday or earlier, it looks like you miss out.<\/p>\n\n\n\n<p>The tax break is costing the Treasury <strong>\u00a33.8bn<\/strong>, more than expected, partly because it is going on for nine months rather than the expected six months.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Turn savings into equity<\/h2>\n\n\n\n<p>What a fantastic move from <strong>Rishi Sunak<\/strong> and the British Government! This will help future-proof our local <strong>Rossendale<\/strong> property market, and help buyers achieve their dream home!<\/p>\n\n\n\n<p>Take a look at properties listed on the market in Rossendale with Coppenwall Estate Agents. <a href=\"https:\/\/coppenwall.com\/hub\/properties\/\">https:\/\/coppenwall.com\/hub\/properties\/<\/a><\/p>\n\n\n\n<p>If you are thinking of putting your property on the market and would like a property valuation, then get in touch with the <strong>team @ Coppenwall<\/strong>.<\/p>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background has-text-align-left wp-element-button\" href=\"https:\/\/coppenwall.com\/free-valuation\" style=\"border-radius:4px;color:#ffffff;background-color:#fa3e33\" target=\"_blank\" rel=\"noreferrer noopener\">Book A Property Valuation<\/a><\/div>\n\n\n\n<div style=\"height:52px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>This bold move was announced as part of the chancellor\u2019s emergency mini-budget to head off a feared explosion in unemployment as the&nbsp;coronavirus pandemic&nbsp;hits harder.<\/p>\n","protected":false},"author":10,"featured_media":8740,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71,83,84,88,109,79],"tags":[221,220],"class_list":["post-8739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-estate-agent","category-home-sales","category-improve-sales","category-local-information","category-news","category-rossendale","tag-scrapped-stamp-duty","tag-stamp-duty"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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