Government to relax Stamp Duty Land Tax against properties below £500,000 for 6 months
Chancellor Rishi Sunak is expected to temporarily increase the Stamp Duty Land Tax threshold in the upcoming Autumn budget of 2020 in an attempt to boost the economy post-Covid-19. The proposed exemption would last for 6 months and increase the current limit from £125,000 to as much as £500,000, providing investors and first-time buyers with more opportunity to advance into the housing market. Sunak’s Autumn Budget is expected to make economic changes and announcements in an updated address on Wednesday, with a highlight on improved traineeships funding with an injection of £110m. We will be live-tweeting throughout the Budget announcement on Wednesday; to keep updated follow us on twitter.