UK Property Market 2021 Predictions!! | Trevor Cutmore | Cashflow-Freedom

What is stamp duty?
Stamp duty is a tax paid by house buyers, dependent upon the price of the property.

The nil-rate tax break was introduced last year to stimulate the housing market and has been extended until the end of September by the chancellor in the latest Budget.

The relief is being staggered and between March and June will remain at 0% on properties up to £500,000.

From June, the first £250,000 of the purchase price will be exempt from the tax, before the allowance returns to its pre-pandemic level of £125,000 from the start of October.

Since the discount was introduced it has cost the Treasury an estimated £3.8bn in revenue - about 2% of the government's total tax take.

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