Closed petition Extend the Stamp Duty Holiday for an additional 6 months after 31st March 2021

Petition progress

View all updates for this petition, with the most recent first.

• 1 April 2021

  Petition closed

• 4 March 2021

  Related activity

  Government announces extension of Stamp Duty Land Tax relief in the 2021 Budget

  On Wednesday 3 March, the Chancellor Rishi Sunak MP presented the 2021 Budget, setting out the Government's plans for tax and spending over the next year.

  In the Budget the Government committed to extending the Stamp Duty Land Tax (SDTL) holiday, as called for by the petition you signed.

  The temporary increase in the residential SDLT Nil Rate Band to £500,000 in England and Northern Ireland will be extended until 30 June 2021. The Nil Rate Band is the amount paid for a property on which no SDLT is paid. Any amount paid over the Nil Rate Band incurs a SDLT payment at the standard rate.

  From 1 July 2021, the Nil Rate Band will reduce to £250,000 until 30 September 2021 before returning to £125,000 on 1 October 2021.

  Find out more about the extension of Stamp Duty Land Tax relief: https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates

  You can read a summary of the key measures announced in the Budget here:
  https://www.gov.uk/government/news/budget-2021-what-you-need-to-know

  You can read the Chancellor's full Budget Speech to the House of Commons here:
  https://www.gov.uk/government/speeches/budget-speech-2021

  Petitions Committee reaction

  Petitions Committee Chair Catherine McKinnell MP, and Committee member Elliot Colburn MP, have welcomed the announcement of an extension to the Stamp Duty holiday, as called for by Mr Colburn and MPs from across the House of Commons during the recent e-petition session on this petition.

  Read their full comments: https://committees.parliament.uk/committee/326/petitions-committee/news/149723/petitions-committee-reacts-to-budget-statement-by-the-chancellor-of-the-exchequer/

  What is the Budget?

  The Budget is a statement by the Chancellor of the Exchequer, updating MPs on how much the Government is spending, borrowing, and receiving from taxation. The Budget usually happens once per year.

  The Budget is also when the Chancellor announces changes to tax and Government spending. This means the Budget is often used to announce new Government policies or changes to existing policies.

  Find out more about Parliament's role in scrutinising the Budget:
  https://www.parliament.uk/about/how/role/check-and-approve-government-spending-and-taxation/the-budget-and-parliament/

  Who is the Chancellor?

  The Chancellor of the Exchequer is the Government Minister in charge of the Government's tax and spending decisions. They are appointed by the Prime Minister and are one of the most senior Government Ministers.

  Find out more about the role and the current Chancellor, Rishi Sunak MP:
  https://www.gov.uk/government/ministers/chancellor-of-the-exchequer 

• 1 February 2021

  Parliament debated this petition

  • Watch the debate on parliamentlive.tv
• 26 January 2021

  Related activity

  E-petition session on Stamp Duty Land Tax Relief during the Covid-19 outbreak

  On Monday 1 February the Petitions Committee will hold a virtual e-petition session to discuss Stamp Duty Land Tax relief during the Covid-19 outbreak.

  MPs will discuss relief to Stamp Duty Land Tax during the current outbreak in light of the petition you have signed calling for this to be extended. Rt Hon Jesse Norman MP, the Financial Secretary to the Treasury, will respond for the Government.

  Watch live from 4.30pm on Monday 1 February:
  https://youtu.be/0420gQEA9Hs

  Petitions sessions and debates are an opportunity for MPs to discuss the important issues raised by petitions, however they cannot directly change the law or result in a vote to implement the request of the petition.

  This petition is being considered in an e-petition session because sittings in Westminster Hall (where e-petitions are normally debated) have been suspended as part of Parliament’s arrangements for adapting to the Coronavirus outbreak.

  Find out more about this session: https://committees.parliament.uk/committee/326/petitions-committee/news/138754/mps-to-discuss-petition-relating-to-stamp-duty-relief/

• 15 January 2021

  This petition will be considered for debate in Parliament

  This petition got more than 100,000 signatures meaning the Petitions Committee will consider it for debate in Parliament.

• 10 December 2020

  Government responded to this petition

  The SDLT holiday was designed to be a temporary relief to stimulate market activity and support jobs that rely on the property market. The Government does not plan to extend this temporary relief.

  Read the response in full

  The COVID-19 pandemic and subsequent lockdown caused uncertainty for those buying and selling residential property and property transactions fell by as much as 50 per cent during the first national lockdown. To stimulate immediate momentum in the property market and to support the jobs of people whose employment relied on custom from the property industry, the Government decided to introduce a temporary Stamp Duty Land Tax (SDLT) relief. This relief increased the starting threshold of residential SDLT from £125,000 to £500,000 from the 8 July 2020 until 31 March 2021. Since the relief was introduced, transactions have increased and seasonally adjusted data shows that in October 2020, transactions were 8% higher than October 2019.

  As the relief was to provide an immediate stimulus to the property market, the Government does not plan to extend this relief. SDLT is an important source of government revenue, raising several billion pounds each year to help pay for the essential services the Government provides.

  The Government is committed to supporting home ownership and helping people get on and move up the housing ladder. When the SDLT Holiday ends, the Government will maintain a SDLT relief for first time buyers which increases the starting threshold of residential SDLT to £300,000 for first-time buyers that purchase a property below £500,000. In addition, a new Help to Buy scheme will be introduced from 1 April 2021. This scheme will run until March 2023.

  All tax policy is kept under review and the Government considers the views it receives carefully as part of that process.

  HM Treasury

• 30 November 2020

  Government will respond to this petition

  This petition got more than 10,000 signatures meaning that government will respond to it.

• 1 October 2020

  Petition published

  This petition can now be signed.

  If this petition gets 10,000 signatures, government will respond to it.

  If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

  This petition will stay open until 1 April 2021.