UK's Sunak could extend stamp duty holiday until June-end - The Times
Reuters
Published Feb 24, 2021 07:12
(Reuters) - British finance minister Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to boost activity in the housing market as the country emerges from lockdown, The Times reported on Wednesday.
The extension to the policy, which covers sales of properties worth up to 500,000 pounds ($708,100), could cost the government 1 billion pounds, the report https:// added.
Britain raised the threshold of property tax to 500,000 pounds last July from 125,000 pounds, exempting nine of 10 people buying a main home from stamp duty. The temporary cuts are set to expire in March 2021.
Sunak will use his annual budget on March 3 to move the policy to the end of June, bringing it in line with the easing of lockdown restrictions, the newspaper said.
He will also announce plans to raise corporation tax while Treasury officials are considering a 25% tax hike.
Sunak said on Tuesday that he would set out more details of job support measures at his budget next week, after official figures showed unemployment had risen to its highest since early 2016.
($1 = 0.7061 pounds)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.