Stamp Duty Land Tax (Temporary Relief) Act 2020

Key Points

• Introduces a temporary relief from Stamp Duty Land Tax on residential property purchases.
• Raising the SDLT nil-rate threshold to £500,000 for the relief period.
• Relief is time-limited and implemented by statute, with the aim of supporting homebuyers during economic disruption.
• Brought forward through Parliament and granted Royal Assent in 2020, making the measure law.
• Expected to affect government revenue temporarily while the relief is in force.

Progress

The bill completed its passage through both Houses and received Royal Assent on 22 July 2020, after which it became law.

Voting

In the final Third Reading, 308 MPs voted in favour and 170 against. The government and allied parties generally supported the measure, while Labour and several opposition groups opposed.