Jump to content

Rumoured SDLT Reform/cuts by Truss 23/09


Recommended Posts

Hi,

It is rumoured that Liz will announce some kind of long-term reform, or short-term cuts /relief related to SDLT on Friday. 
 

Does anyone have awareness or experience on the likelihood of when things like this come into effect?

 

We are due to exchange contracts today.. and complete on 29th September on our first big move to a £1.1m property… £60k SDLT. 

We have an option to delay by a few days but will be very unpopular in the chain given timings. 

https://thenegotiator.co.uk/breaking-stamp-duty-to-be-cut-in-mini-budget-times-reports/

What would you do?

Link to comment

SDLT cuts are almost always introduced with immediate effect, otherwise they distort the market too much during the interim period. So if completion isn't until next week, the likelihood is that any changes will be in effect by then anyway, so you'll probably get lucky.

I certainly wouldn't collapse a whole chain on the basis of a rumour. If you were happy to proceed based on SDLT at the rate it is currently when you agreed the deal originally, any potential saving will just be an unexpected and welcome bonus.

Chris (www.fintentional.co.uk)

Chris Hancox

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...