Pent-up demand during the initial phases of the pandemic, changing preferences among homebuyers, and the Stamp Duty Land Tax (SDLT) holiday combined to fuel this market growth. The result was a well-documented rise in property prices and transactional activity.
Now, as we look cautiously towards a return to ‘normality’ over the coming months, the question of the national debt is rising to the fore. Of course, with such extreme financial support measures required for businesses and consumers alike, this issue was inevitable. And it is the bullish property sector that could come under the microscope or, more specifically, the way property transactions are taxed. It is an apt time, then, to delve deeper into the subject of stamp duty––something that has seldom strayed from the media spotlight over the past year given the Government’s aforementioned temporary tax break.
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