Stamp Duty Saving Ending 31st March 2021

The Law Society have issued a note for solicitors in residential conveyancing which confirms Analysis by Rightmove suggests that around 100,000 buyers will miss out on the stamp duty saving. The Law Society has made suggestions to Government to soften the deadline of the SDLT concession on 31 March 2021 however at present the date will remain the same and any transaction completing after the 31st March will be subject to the Stamp Duty payment due at that time.

Please note that the transaction is not wholly within our control and that there are many factors that can prevent the purchase or sale proceeding. The main causes for transaction delays and withdrawals seem to be valuations, obtaining mortgage offers, obtaining some search results, an increase in enquiries being raised and delays caused by all parties, providers and suppliers having staff working from home. Therefore, whilst we will work as swiftly as we can to progress your transaction please note it may not complete before 31st March 2021.

Please also be aware that the end of the SDLT holiday in England and LTT holiday in Wales coincides with the busy Easter holiday period and the end of the Help to Buy scheme in its current format. This may affect your transaction and the booking of your removals.

The contents of this article do not constitute legal advice and are provided for general information purposes only.