Stamp Duty Holiday Extended
Emily Coomber • March 29, 2021
Following the announcement in the Chancellor’s recent budget, buyers and sellers will be relieved to hear that the stamp duty holiday on house purchases has been extended for a further three months.
The announcement in the budget was a complete U-turn from the Chancellor’s statement in December 2020 that he had no intention to grant any further extension.
The holiday was initially intended as a stimulus for the property market and many buyers were encouraged to enter the market as a result. Many homeowners advanced their plans to move in order to make the deadline and benefit from the tax relief. However, the lurking deadline was seen my many in the industry as a cliff-edge and buyers and sellers alike were beginning to worry as the end of March date loomed closer.
The of the extension will therefore likely come as a relief for both buyers and sellers who were hoping to take advantage of the holiday but, with the initial deadline fast approaching, were not so optimistic about their transactions completing in time.
The move to extend the holiday also aims to help buyers who may have taken a financial hit because of Covid-19 as well as boosting a property market hit by lockdown.
The budget announcement confirms that stamp duty land tax will continue to be suspended on the first £500,000 of all sales in England and Northern Ireland until the end of June. Additionally, the nil rate band will be set at £250,000 - double its standard level - until the end of September. This second reduction is aimed at really helping buyers at the lower end of the market. It is also hoped that the extra three-month taper until the beginning of October will make any ‘cliff-edge’ in June feel less steep.
So What is Stamp Duty Land Tax and How Does it Work?
Stamp Duty Land Tax (SDLT) is a tax paid on the purchase of property or land in England and Northern Ireland.
The tax is not payable on the whole of the purchase price, just on the figure over a certain amount. This ‘initial threshold’ is where SDLT starts to apply.
With the new rules being extended, it now means that if you purchase a property for up to £500,000 before the June deadline, there is no SDLT to pay.
On purchases over £500,000, buyers will have to pay a 5% tax on the portion of the sale price which is from £500,001 up to £925,000, then 10% on the portion from £925,001 to £1.5 million and then pay 12% on any portion over £1.5 million.
Different rules apply for second homes.
So, rather than the worrying ‘cliff edge’ we were expecting in March 2021, there will be a staggered reduction from the end of June.
On property purchases from 1 July to 30 September 2021, the SDLT threshold on residential properties will be reduced from £500,000 down to £250,000.
Then, from the 1st October the SDLT threshold will be back to its usual level of £125,000 for residential properties.
You can visit www.ov.uk for more information.
New Title
Contact Us
Contact Us
News & Insights
We are delighted to share that Woodstock Legal Services has been shortlisted for Conveyancing Firm of the Year - South of England at the Modern Law Conveyancing Awards 2026 . We are also proud to see Bethany Hudson , one of our Consultant Licensed Conveyancers, shortlisted for Rising Star of the Year. With our head office in Poole, Dorset, we are proud of our roots in the South West and the relationships we have built within the region’s property community. These shortlists recognise both the strength of our Residential Property team and the people behind the scenes who support our clients throughout their property journey. At Woodstock Legal Services, our focus has always been on building a conveyancing service that works for both our clients and our consultants. By bringing together experienced conveyancers with dedicated back-office support and the right infrastructure, we aim to make the process of buying and selling property as straightforward as possible, while giving our lawyers the flexibility and support to deliver excellent client care. Our connection to the South West remains an important part of who we are. Through relationships with local property professionals and organisations such as Poole Property Club , we continue to build connections within the property market while supporting clients across England and Wales. Over the past year, our Residential Property team has continued to grow, supported by investment in our people, processes and technology. Our dedicated back-office teams play an equally important role, helping keep transactions moving so our conveyancers can focus on their clients and the legal work that matters most. Being shortlisted for Conveyancing Firm of the Year in the South of England is a recognition of the collective effort behind our service, from the conveyancers working directly with clients to the teams supporting them behind the scenes. Car Jermyn Managing Director of Woodstock Legal Services, added: " I’m incredibly proud to see Woodstock Legal Services shortlisted for Conveyancing Firm of the Year and Bethany Hudson recognised as a Rising Star. Both awards reflect the quality of our lawyers and the commitment of the wider team supporting them. It’s great to see the work happening across our business recognised, particularly in the South of England, where our roots are firmly established. " A growing modern law firm As we continue to grow, we are always keen to speak with experienced lawyers who want to work differently, be properly supported, and be part of a collaborative community. Behind every successful consultant is the right firm. Click here to see why consultants choose Woodstock.
England's new landlord register launches 15 Dec 2026 under the Renters' Rights Act. Check your regional deadline and avoid fines up to £40,000
Untangling a historic trust, title restriction and finance issues on a £1.45m commercial property sale - a Woodstock case study
Grass and wildfires are spreading across the UK. Find out when an accidental fire becomes negligence, and who could be liable for the resulting damage.
Expert property solicitor Pedro answers questions on auction purchases, refinancing, title splits and multi-unit property investments. Get practical legal guidance.
Invested in a care home, hotel or student flat scheme that collapsed? Learn what an unauthorised Collective Investment Scheme means for you.
Section 114 Notices are already landing. Zoe Turner explains what local authorities can demand under the Renters' Rights Act, and how to prepare.
Using a Lifetime ISA to buy your first home? Bethany Hudson explains how LISA withdrawals work in a property transaction, what to tell us early, and how to avoid costly delays.
What changes under the Renters’ Rights Act affect Welsh landlords? Learn about anti-discrimination rules, occupation contract updates, compliance deadlines and what does not apply in Wales.
