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Stamp Duty Reform

  • Rishi Sunak, the newly appointed Chancellor of the Exchequer will deliver the government’s first Budget since leaving the EU this week, 2019 the first year in over a century that no Budget took place.
  • Headlines for the housing market may well include changes to Stamp Duty Land Tax, support for first-time buyers and housebuilders and a continuation of reforms for the private rental sector.
  • Originally touted as a Budget set to ‘level up’ and ‘unleash’ the UK economy, plans for protecting the nation and the economy during the coronavirus outbreak look likely to take centre stage.
  • The Budget speech will commence around 12.30pm and usually lasts in the region of an hour. The longest however was by William Gladstone in 1853, taking 4 hours and 45 minutes!
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