The Stamp Duty Land Tax (SDLT) holiday has been extended until 30th June 2021.
The Stamp Duty Holiday Extension Explained
The initial threshold is where SDLT starts to apply. If you purchase a property for under £500,000 before the June deadline, there is no SDLT to pay.
On purchases over the £500,000 threshold, buyers will pay a 5% SDLT on the portion from £500,001 to £925,000, 10% on the portion from £925,001 to £1.5 million, and 12% on any portion over £1.5 million.
On property purchases from 1 July to 30 September 2021, the SDLT threshold on residential properties will be £250,000. From 1 October, and the SDLT threshold will be £125,000 for residential properties.