House buyers, along with their conveyancers, sighed in relief with news of a further extension to the stamp duty land tax (SDLT) holiday to the end of June 2021.
An estimated 100,000 buyers were attempting to beat the 31 March deadline to avoid a tax bill.
Government has also announced a taper approach to smooth the transition to normal SDLT rules. From the 30 June, the nil rate band will reduce from £500,000 to £250,000 until the end of September before reverting to £125,000.
Paul Smee, non-executive chair of the Conveyancing Association, commented: “The Chancellor has recognised the economic boost which an active housing market gives to the wider economy and we are pleased he is not bringing th...