Government expected to announce six-month stamp duty holiday

Industry News | 06/07/20

Chancellor Rishi Sunak is widely expected to announce a six month stamp duty holiday in his ‘Summer Economic Update’ on Wednesday. The government is rumoured to have drafted up the plans, which could see the stamp duty threshold temporarily raised from £125,000 to between £300,000 and £500,000. First-time buyers are already exempt from stamp duty on homes under £300,000 in the UK and £500,000 in London.

Source: financial reporter