Property news - Update on Stamp Duty debate in Parliament

Pinch punch, first of the month!

Today saw a very unusual moment during this afternoon's virtual House Of Commons debate. MPs from different parties were singing from the same hymn sheet around extending the Stamp Duty holiday. They rarely agree about anything, we did have to pinch ourselves when we read all the updates.

The debate was triggered by an online public petition that wants to see a six-month extension to the existing deadline of the 31st of March.

Almost nearly every MP who spoke during the 70-minute discussion, favoured adding at least a further six months or staggering the deadline, so that more people can benefit from the tax break.

How has today’s debate impacted sellers and buyers in St Neots and the surrounding areas?

To be honest, nothing has changed but the pressure is building on the treasury to act, mainly because the property market generates enormous tax income and millions of pounds worth of home sales are in the balance.

We’re now all playing a game of wait and see until Wednesday the 3rd of March, when the Chancellor Rishi Sunak will reveal the Government’s decision.

We can only keep our fingers and toes crossed, for all of our clients and any future ones that this extension is granted. We will keep you all informed as and when we hear anything.

If you have any questions about the Stamp Duty holiday and what it means to your moving plans, contact us on 01480 775355 and we will be happy to answer any of your queries.

Barry & Laura

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