Nearly two-thirds of landlords want Chancellor Rishi Sunak to extend or modify the current stamp duty holiday, a new poll by LandlordZONE has revealed.
We asked our landlord Twitter fans to vote on the issue last week and nearly 800 answered, of which 63% said they want the stamp duty holiday extended.
Landlords are the latest to make their feelings clear as every sector of the housing market urges Sunak to prevent a ‘cliff face’ on March 31st when the relief is due to end.
Since early July all home buyers have been exempt from paying stamp duty on the value of a home purchase up to £500,000, significantly reducing the level of stamp duty paid for thousands of landlords and other buyers.
The holiday does not include the 3% ‘second home’ tax still levied on anyone buying a property that is not their main residence, which is still payable.
Hopes that HM Treasury will be persuaded to amend the holiday in one way or another were raised briefly last week when a parliamentary committee met to debate the issue.
But MP and Treasury spokesperson Jesse Norman said landlords would have to wait until March 3rd when Sunak is scheduled to reveal his ‘Covid recovery’ budget to find out.
Also, the NRLA has called on the Chancellor to scrap the 3% ‘second homes’ stamp duty where landlords invest in properties that add to the net supply of housing.
This would include new homes, converting large properties into affordable units, changing the use of a property from commercial to residential or bringing empty homes back into use.