The Bradshaw Hollingsworth News Area will provide legal comment and updates about issues affecting businesses and consumers. If you have any suggestions or comments on the news articles, or would like our help dealing with a legal problem, please contact us on mail@bhlaw.co.uk.

Stamp Duty - Exemption extended to 31 December 09

Following the economic downturn, in September 2008, the Government temporarily extended the starting point for stamp duty for residential property purchses from £125,000 to £175,000 until September 2009. This meant that the 1% stamp duty liability was suspended for purchases between £125,000 and £175,000.

This has now been extended to 31 December 2009 following April's budget.

Greg Hollingsworth of Bradshaw Hollingsworth Solicitors comments: "The intention of the policy is to try to encourage residential property transactions. However, there is a concern that the policy could distort the market when it expires. That said, it is a welcome extension and will benefit buyers and buy-to-let investors."

The exemption will only apply to purchases which are entirely residential.

If you would like any advice or assistance in relation to a residential property transaction, including house purchases and sales, please contact the Conveyancing Team at Bradshaw Hollingsworth Solicitors on 0116 204 2500 or conveyancing@bhlaw.co.uk

Bradshaw Hollingsworth provide specialist legal advice in the areas of Employment Law, Litigation, Commercial, Insolvency, Debt Recovery, Wills & Probate and Property, including residential conveyancing, house sales, house purchases and re-mortgages. For more information about our services please contact Greg Hollingsworth of Bradshaw Hollingsworth Solicitors, 19 New Walk, Leicester on 0116 204 2500 or by email at greg.hollingsworth@bhlaw.co.uk.

Partners: Robin Bradshaw and Greg Hollingsworth - Bradshaw Hollingsworth is regulated by the Solicitors Regulation Authority.