The chancellor has announced changes stamp duty, VAT, eating out and the furlough scheme.So, how could you be affected? Questions and answers Latest questions Your questions Skip Latest questions My daughter bought a home last week and completes/moves on Thursday. Does the stamp duty change apply to her? from Jan Everden in West Malling, Kent Yes it does, as long as she is buying in England or Northern Ireland. The stamp duty holiday started on Wednesday and lasts until 31 March 2021. The date of completion, which is when you can move into your new home, not exchange, when signed contracts are handed over, is the relevant one for stamp duty purposes. We are due to buy a £585,000 house. Will we save any money on stamp duty? from Rebecca Beauchamp Kevin Peachey Personal finance reporter Yes, you will not pay stamp duty for the portion under £500,000. The portion between £500,001 and £585,000 will still be taxed at 5%. So, overall the bill will be cheaper under this temporary policy, as it will for many people buying in more expensive areas. The idea is to get the whole housing chain moving. But questions have been raised because buyers of… Read full this story
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