LPL conveyancing news – Stay informed with the latest property market updates, conveyancing insights and legal developments. Our expert team at LPL keeps you up to date with breaking conveyancing news, industry trends and essential guidance on buying, selling and remortgaging your home. Trust LPL for reliable, expert-driven property law news as it happens.
At the end of March 2025, a temporary cut in Stamp Duty will end, meaning that many homebuyers will need to pay more if their purchase is not completed by then. Stamp Duty is a tax on property purchase transactions in England and Northern Ireland. The amount payable depends on certain factors, including: We take...
The Law Society has warned that agents claiming to be able to secure Stamp Duty Land Tax (SDLT) refunds are putting property buyers at risk of substantial future bills. Conveyancers have contacted the Law Society saying that there has been a spate of organisations with “little or no expertise in the tax” and who “pay...
In Labour’s first budget, Chancellor Rachel Reeves announced that the Stamp Duty surcharge on second homes will go up from 3% to 5%. This applies to residential property purchases in England and Northern Ireland where contracts were exchanged after 30 October 2024. The government states that the increase is intended to help first-time buyers and...
In September 2023, chancellor Kwasi Kwarteng announced changes to rates of Stamp Duty payable on property purchases in England and Northern Ireland. Although tax cuts announced at the same time were subsequently withdrawn, the Stamp Duty changes remain in effect. The new rates of Stamp Duty will mean less tax will be payable for some...
LPL, like other conveyancers around the UK, are preparing for another peak in services demand as the announcement that stamp duty land tax (SDLT) would be cut as part of Kwasi Kwarteng’s mini-budget 2022. This is a permanent cut which is effective from today, so it’s no surprise that Rightmove’s traffic soared within an hour...
On 1 April 2021, the government introduced a new Stamp Duty Land Tax surcharge of 2 per cent for buyers of homes in England and Northern Ireland who are from outside the UK. This means that overseas buyers will be required to pay an additional 2 per cent on top of the standard level of...
The temporary Stamp Duty holiday has been extended in an attempt to keep the property market active. In June 2020, the chancellor Rishi Sunak announced a temporary Stamp Duty holiday, cutting the rate of the tax on purchases of up to £500,000 to zero. The current rate of 0 per cent payable on the first...
What is the stamp duty holiday? Last year, the government temporarily increased the amount at which stamp duty is paid to £500,000, for property sales in England and Northern Ireland. The move was aimed at helping buyers who might have taken a financial hit because of Covid. It could save them as much as £15,000,...
As well as the Welsh Government’s surprise raising of the rate of transaction tax on the purchase of second homes, the Land Transaction Tax (LTT) holiday in respect of main residences is due to end on 31 March 2021. For those thinking about buying a property in Wales, tax is likely to be a hot...
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