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15 Jul 2020

The chancellor announced a temporary holiday on stamp duty on the first £500,000 of all property sales in England and Northern Ireland.

The level at which the tax is charged has been temporarily raised until next March to £500,000 to boost the property market and help buyers struggling because of the coronavirus crisis.

This announcement should benefit most purchasers of retirement housing – and their buyers and chains – and picks up concerns ARHM and wider sector representatives had expressed in a letter to the Chancellor stressing the benefits of a stamp duty holiday.