UK Property Stamp Duty Holiday set to boost the economy

Chancellor Rishi Sunak has announced a Stamp Duty holiday, raising the level at which the tax is charged to £500,000 of all property sales in England and Northern Ireland.

The tax threshold has been temporarily raised until next March to boost the property market and help buyers struggling because of the coronavirus crisis.

The changes have come in with immediate effect.

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This means that you could now save thousands of pounds when purchasing your next home – making it the ideal time to buy

The average home currently costs £248,000 – with the changes announced you would save £2,460 in stamp duty costs when purchasing a home of this value. Anyone completing on a main residence costing up to £500,000 between 8 July and 31 March will not pay any stamp duty, and more expensive properties will only be taxed on their value above that amount.

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Essentially, the more the property that you are buying is worth – up to £500,000 – the more you save, with potential savings of up to nearly £15,000 pounds. With the recent upsurge in property enquiries after the lockdown period, selling your property and finding your new home has never been easier.

Source: BBC News

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I am a Property/Energy Consultant TA DenEco Consultancy - www.deneco.co.uk: A friendly, energetic and adaptable individual with keen interest and aptitude for learning and motivating others, with great academic skills and work experience in both Life science and Environmental Management, seeking an opportunity to use his proven flair for teamwork and creativity in Property Purchase, Energy Efficiency, Environmental management for sustainable development and growth in any related sector or industry. I help individuals, businesses, SMEs and corporate clients save or make money in regards to Property investment, energy efficiency, environmental management solutions. The foundation of my experience is environmental protection. I have a passion for helping people, businesses and corporate organization achieve their dream through Property Investment and become more efficient and effective in their energy, and environmental management. I get satisfaction from knowing that the work am doing is helping make/save money and the environment.  Contact us @ www.deneco.co.uk Outside of work you can find me spending time with family, studying and researching for new opportunities and continuous development. Specialties: Property Investment, EPC provider, Energy Efficiency, Environmental  management.

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