Stamp duty threshold extended by Chancellor

In yesterday’s budget, Chancellor Rishi Sunak confirmed that the current stamp duty holiday is being extended in England and Northern Ireland. Until 30 June, the first £500,000 spent on a property will be tax-free, and this will then drop to £250,000 until 30 September.

ILM is welcoming the news that the stamp duty threshold has been extended and we hope this will help ease pressure on the property market during the current COVID-19 pandemic. We believe this is good news for charities who raise millions in legacy income through property sales.

There will be further discussion on the property market, including leasehold reforms, at our two-part property webinar which kicks off later today. Find out more here.