FAQs: The new Stamp Duty Land Tax holiday

We answer the questions most asked by our clients about the recently announced Stamp Duty Land Tax holiday.

On Wednesday 8 July,  as part of its ‘Plan for Jobs 2020’ policy initiative, the Government announced a temporary increase to £500,000 of the stamp duty land tax (SDLT) nil rate threshold that applies to purchases of residential property.  The change is intended to promote medium-term confidence in the property market and maintain the growing momentum since the easing of lockdown.  Set out below are answers to some of the most commonly  arising  questions in relation to the threshold change.