SDLT temporary reduced rates

The Stamp Duty Land Tax (Temporary Relief) Bill has been published and was introduced to the House of Commons on Monday 13 July to fast-track the temporary increase in the SDLT nil-rate band upper threshold to £500,000 (and other associated changes) until 31 March 2021, as announced by the chancellor last week. The House of Lords stages are scheduled for 17 July, with royal assent expected to follow by 22 July, possibly on the same day as Finance Act 2020. HMRC has published new guidance SDLT: temporary reduced rates to accompany the legislation and which confirms that the higher rates for additional properties will apply based on the revised thresholds.