Sarah Bradford considers whether landlords should look to take advantage of the temporary reduction in stamp duty land tax, land and buildings transaction tax and land transaction tax by expanding their property portfolio before 1 April 2021.
To help the country recover from the impact of the Covid-19 pandemic, the Chancellor announced a temporary increase in the stamp duty land tax (SDLT) threshold in his summer statement. Changes were also announced by the devolved governments to land and buildings transaction tax (LBTT) in Scotland and land transaction tax (LTT) in Wales.
At the time of writing, the property market was buoyant, particularly in coastal and countryside locations. The pandemic allowed people to press pause and reassess their lifestyles and, when combined with lower SDLT bills for a limited period, many have taken the decision to move house or invest in a second home.
