UK Property Market Boost: Chancellor announces rise in Stamp Duty tax threshold
An editorial stock photo of the UK Inland Revenue Tax forms with the new 2017 One Pound Coins.

UK Property Market Boost: Chancellor announces rise in Stamp Duty tax threshold

It was one of the worst kept secrets in government. Rishi Sunak, the Chancellor of the Exchequer has announced the raising of the Stamp Duty Land Tax (SDLT) threshold to £500K. This is applicable immediately and will run until the 31st March 2021. So, that gives investors 8 months to get their act together and execute property purchases within the England & Northern Ireland.

This tax holiday is only applicable to people buying their main place of residence. Landlords and second homeowners will still be charged the exiting 3% applicable. This has in effect been a halving of the purchasing taxes. 

So, if you were looking at investing in a short-let property this action will provide you with an extra £15K to spend on the finer touches around your investment or help with an overhaul. Either way it will enable an investor to target maximising their properties appeal to guests.