Reduced rates of SDLT on residential property for a temporary period

Part of Stamp Duty Land Tax (Temporary Relief) Bill – in the House of Commons at 8:22 pm on 13th July 2020.

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Photo of Nigel Evans Nigel Evans Deputy Speaker (Second Deputy Chairman of Ways and Means) 8:22 pm, 13th July 2020

With this it will be convenient to discuss the following:

Clause 2 stand part.

New clause 1—Review of impact of Act—

“(1) The Chancellor of the Exchequer must lay before the House of Commons within three months of Royal Assent a review of the impact of this Act. (2) Such a review must include an assessment of the impact of the Act on— (a) first-time buyers, (b) existing owner-occupiers moving home, (c) buy-to-let investors, (d) those buying second homes, and (e) overseas buyers.”

Member’s explanatory statement This new clause would require the Chancellor of the Exchequer to report to Parliament on the impact of the Act, and in particular its impact on different groups of property owner.