The SDLT 0% band was temporarily increased to £500,000 in 2020. The Chancellor confirmed that this would be extended to the end of June 2021. After this, the band will fall to £250,000, before returning to its standard level of £125,000 from 1 October 2021.
The proposed non-resident surcharge of 2% for purchasers of UK residential property will be implemented from 1 April 2021.
The government will also provide mortgage guarantees for homebuyers. This will not be limited to first-time buyers but will not be able to be used for second homes or buy-to-let properties. It will have a maximum purchase value of £600,000. This intended to encourage lenders to return to offering mortgages to lenders with low deposits. The scheme will open in April 2021 and run to the end of 2022 (though the government will review whether an extension is appropriate).
There are new reliefs from the annual tax on enveloped dwellings (ATED) and the 15% SDLT rate for qualifying housing cooperatives from 3 March 2021.