X

Mortgage & Property

New Insurance Professional

Family Office Bulletin

Mortgage Property

Insurance Professional

Family Office

#Budget2021: Stamp Duty holiday extension could cause a second wave of buy-to-let investments says Wilsons

Chancellor Rishi Sunak announced in the Budget that the Stamp Duty Land Tax (“SDLT”) holiday will be extended from its initial end date of March 31 to June 30. After that, the holiday will remain on properties valued up to £250,000 until September 30.

Law firm Wilsons says this could lead to a second wave of buy-to-let investments being made. In the fourth quarter of 2020, 61,800* buy-to-let properties were purchased, the highest quarterly figure since 2017. Wilsons say the SDLT holiday was a significant contributor to this upturn in property transactions.

Buy-to-let investors have purchased 102,267** properties, since the SDLT holiday came into effect in July 2020,

Imogen Lea, a tax consultant at Wilsons, says: “The welcome three-month extension to the SDLT holiday gives potential property investors a second chance to purchase with no SDLT up to £500,000.”

“The extension to properties valued at £250,000 or less, which will be introduced in July and run to September 30, could see more sustained growth in buy-to-let investments in parts of the country where property prices are lower, or in smaller dwellings.”

“The million-dollar question, is whether this will be enough to keep the market buoyant in the medium and long-term.”

“Landlords are also hoping that the end of the lockdown will see young professionals, many of whom have spent much of the crisis staying at their parents’ homes, return to renting in city centres.”

“Interest rates in the UK are likely to remain low for the foreseeable future, which should attract more investment to the residential property market versus virtually zero interest on bank deposits and UK

This Week’s Most Read

  • An interview with the pub landlord that barred Sir Keir Starmer

    Footage from today shows Sir Keir Starmer’s entourage man handling Rod Humphris, pub landlord for the Raven of Bath Public house. In this exclusive interview,

  • Sir Keir Starmer in pub brawl?

    Predictions of scuffles in pubs came true today, with a landlord being ejected from his own pub by interlopers. Sir Keir Starmer had been listening

  • Haatch SEIS fund oversubscribed within 2 weeks

    Haatch Ventures quietly launched their first SEIS Fund in March, with a target raise of £1.5m.  This figure was reached within 2 weeks, and the

  • Sir Keir Starmer, pubs and COVID – taking the piss, not taking a piss..

    We thought you weren’t allowed into pubs these days? Incredible scenes erupted today outside the Raven Pub in Bath, as Sir Keir Starmer was confronted

  • Why Government support means there has never been a better time for sustainability start-ups

    When Glasgow hosts the United Nations Climate Change Conference in November, it will be more than two years since the UK signed into law its

  • Staycation Boom Could be Taxing for Landlords

    Furnished holiday lets offer tax breaks, but owners need to tread carefully. Soaring demand for holiday lets as the UK plans for a ‘staycation summer’

  • New financial advice service from Vanguard aimed at retirement savers

    Designed for investors saving for retirement, Vanguard Personal Financial Planning launches on the award-winning Vanguard UK Personal Investor platform – vanguardinvestor.co.uk/financial-advice. The service offers personalised

  • MainStreet Partners: does the ‘S’ in ESG have ‘middle child’ syndrome?

    Long overlooked in favour of its more obvious counterparts, last year saw investors turn a corner and beckon in ‘an era of social impact investing’,

  • Creating a sustainable future – A special supplement in conjunction with M&G | April 2021

    M&G Investments are one of the early adopters of ESG (environmental, social and governance) and impact investing strategies within their funds. In this IFA Magazine

  • The Coming Decade for Climate Solutions

    Randeep Somel, Fund Manager, M&G Climate Solutions Fund, is finding reasons to be cheerful as he uncovers some of the powerful drivers of change which

IFA Magazine

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

IFA Magazine