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STAMP DUTY EXTENSION

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Rishi Sunak has said the stamp duty holiday will be extended until the end of June. That means homebuyers in England and Northern Ireland will pay no stamp duty on properties worth up to £500,000. The extension will save an additional 300,000 home buyers up to £15,000, according to property website Rightmove.

An extension to the deadline was widely expected. But in a surprise move, the Chancellor also announced that stamp duty will be tapered after the holiday ends. The threshold will drop to £250,000 until the end of September before returning to its normal level of£125,000.

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