Stamp Duties

Treasury written question – answered on 2nd March 2021.

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Photo of Julian Sturdy Julian Sturdy Conservative, York Outer

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of retrospectively applying the temporarily reduced rates of stamp duty to house purchases completed between 23 March and 7 July 2020.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

The temporary SDLT relief was designed to stimulate immediate momentum in a property market where property transactions fell by as much as 50 per cent during the COVID-19 lockdown in March. This has also supported the jobs of people whose employment relies on custom from the property industry, such as retailers and tradespeople.

The relief applies to sales that have been completed or substantially performed before 31 March 2021 and will not be backdated for those who purchased a property before the relief was introduced.

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