Published: 03/03/2021STAMP DUTY LAND TAX - The Chancellor has extended the SDLT holiday by three months to 30 June 2021 for purchases up to £500,000. For purchases up to a value of £250,000, the holiday will continue until 30 September 2021. From 1 October stamp duty will return to the usual level of £125,000.
MORTGAGES - Also announced today is a mortgage guarantee scheme to encourage lenders to lend up to 95% of the purchase price on homes with a value of up to £600,000. This is aimed at first-time buyers and is intended to allow more people to become homeowners.
Other points of note include:
• furlough extended to 30 September 2021 with additional support for the self-employed
• business rates relief extended
• reduced VAT rate for hospitality sector extended for a further six months
• alcohol and fuel duty frozen
• no changes to rates of income tax, national insurance or VAT
• capital gains tax and inheritance tax will remain unchanged until April 2026.