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We've Just Agreed To Sell Our Home And Buy Another, Could We Complete In Time To Benefit From A Three-month Stamp Duty Holiday Extension?

We have just agreed the sale of our home and the purchase of a new one costing £600,000, and there is no chain beyond these two transactions.

We had been working on the basis that there was no way we would benefit from the stamp duty holiday, but I have now read that it could be extended for three months.

Would we be able to get the deals done in that time and benefit from an extended break if it comes, and when would that be announced? Via email

 Stamp duty holiday - Kay & Co

Helen Crane, This is Money, replies: With a potential saving of up to £15,000, it is not surprising that you are keen to take advantage of the stamp duty holiday if at all possible.

The temporary waiving of the unpopular tax was introduced by chancellor Rishi Sunak in July 2020 and applies to the portion of any property sale under £500,000.

The holiday was set to end on 31 March. But now, it has been reported that the deadline will be extended for three months, taking it up until the end of June.

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Oliver Ingles Updated

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