Have your say on government e-petitions

Raise Stamp Duty threshold to £500k for residential purchases long term

Submitted by Adam Fletcher on Sunday 3rd January 2021

Published on Monday 11th January 2021

Current status: Open

Open until: Sunday 11th July 2021

Current Signatures: 572
(count is updated approximately hourly)

Relevant Departments

Tagged with

2021 ~ Banks ~ Cliff ~ Covid ~ Covid-19 ~ Covid-19 measures ~ Economy ~ Edge ~ HMRC ~ IMPACT ~ It ~ measures ~ property

Petition Action

Raise Stamp Duty threshold to £500k for residential purchases long term

Petition Details

The current SDLT payment holiday introduced as part of the COVID-19 measures to stimulate the economy is due to end on on the 31st March 2021.
Many property professionals consider that it has created a cliff edge that will have a significant adverse impact on the sector and wider economy.

Additional Information

The sector is under distress with banks, HMLR, HMRC, surveyors developers and bulk providers all having significant delays and backlogs.

Transactions taking longer due to COVID.

2016 SDLT deadline created significant issues and market was functioning correctly.

Local business benefit from increased activity in the market - removal companies, trades etc.

More VAT related items purchased.

Formalising the current payment holiday will allow the sector to reconfigure.


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54.208.73.179 Sun, 24 Jan 2021 11:33:46 +0000