Closed petition Extend the stamp duty holiday and phase out gradually

We would like the Government to review the end of the stamp duty holiday, as we believe it should not end on the 31st of March.

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We would like the Government to extend the stamp duty holiday for another six months and beyond that, it should be phased out over a period of six months, to avoid a bubble that could burst with terrible consequences, but rather a reduction on a sliding scale that should reduce impact o one of the most important sectors of the UK economy.

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Other parliamentary business

Government announces tapered 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 a tapered extension of 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

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