{"id":7748,"date":"2020-07-08T08:41:22","date_gmt":"2020-07-08T08:41:22","guid":{"rendered":"https:\/\/dev.withcreative.co.uk\/lforl\/?p=7748"},"modified":"2020-07-09T08:41:32","modified_gmt":"2020-07-09T08:41:32","slug":"a-good-time-to-buy-stamp-duty-cut-from-today-until-march-2021","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/a-good-time-to-buy-stamp-duty-cut-from-today-until-march-2021\/","title":{"rendered":"A good time to buy: stamp duty cut from today until March 2021"},"content":{"rendered":"

\"\"<\/a>
\nToday Rishi Sunak delivered the highly anticipated Summer economic statement, or \u2018mini-budget\u2019 for 2020. It was expected to deliver a lifeline to businesses and stimulate the economy, but did it deliver?<\/p>\n

The initial response is a resounding \u2018yes\u2019. The Government announced \u00a330billion of extra spending to support a jobs retention bonus, incentives to hire apprentices, a kickstart scheme to get young people into employment and a 15% drop in VAT for the food, accommodation and attraction industry (down to just 5%). There was also an \u2018Eat out to Help out\u2019 scheme announced offering a 50% discount to eat out in participating restaurants between Monday and Wednesday.<\/p>\n

And the housing front wasn\u2019t left behind. Currently homeowners pay stamp duty on any home over \u00a3125,000, except for first time buyers who don\u2019t pay stamp duty up to \u00a3300,000. Today the Chancellor announced that stamp duty will be cut, and the new threshold will be \u00a3500,000 for property sales in England and Northern Ireland. Based on last year\u2019s property sales from Zoopla the new stamp duty could benefit up to 89% of people purchasing homes. So, it\u2019s a pretty significant cut.<\/p>\n

And now it\u2019s time to see what happens. The new stamp duty starts immediately and will run until 31 March 2021. It\u2019ll be interesting to watch the impact on the property market between now and next year and see how the banks and mortgage lenders react to the news. Watch this space!<\/p>\n","protected":false},"excerpt":{"rendered":"

Today Rishi Sunak delivered the highly anticipated Summer economic statement, or \u2018mini-budget\u2019 for 2020. It was expected to deliver a lifeline to businesses and stimulate the economy, but did it deliver? The initial response is a resounding \u2018yes\u2019. The Government announced \u00a330billion of extra spending to support a jobs retention bonus, incentives to hire apprentices, […]<\/p>\n","protected":false},"author":2,"featured_media":7749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[63,2081,2183,21],"yoast_head":"\nA good time to buy: stamp duty cut from today until March 2021 - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/a-good-time-to-buy-stamp-duty-cut-from-today-until-march-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A good time to buy: stamp duty cut from today until March 2021 - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"Today Rishi Sunak delivered the highly anticipated Summer economic statement, or \u2018mini-budget\u2019 for 2020. 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