In a bid to boost the property market during the coronavirus pandemic, the Government removed the need to pay stamp duty on certain properties and buyers didn’t have to pay stamp duty on the first £500,000 of their purchase price. From the start of July 2021, the stamp duty holiday has started to be phased out to pre pandemic levels with a full return on 1st October 2021.
The stamp duty holiday has certainly created an extremely busy period at John M Lewis with a large number of completions taking place throughout the year and especially so before the end of June deadline to allow as many clients as possible to enjoy the full benefit of the discounted rate. This period has certainly not been without its challenges especially having to adapt to new procedures due to Covid 19. Through our determination, the support and understanding of our clients we have continued to experience success and now that things are ending, it gives us the opportunity to reflect on the past year.
Liz Knott comments “On reflection, the past year has been challenging but we have got through it and we continue to strive to offer a good service no matter what the challenges are. We look forward to welcoming all clients old and new back into the office when Covid Restrictions allow.”
There is still time to benefit from the stamp duty holiday, use the Government calculator here https://www.gov.uk/stamp-duty-land-tax/residential-property-rates
Get a free no obligation estimate from John M Lewis & Co for your sale or purchase today through our online tool or call our office to speak with one our friendly team.