{"componentChunkName":"component---src-templates-post-js","path":"/stamp-duty-holiday/","result":{"data":{"ghostPost":{"id":"Ghost__Post__5f043249ddc988003966687c","title":"Stamp duty holiday?","slug":"stamp-duty-holiday","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/07/Multiply-minute-4.png","excerpt":"The chancellor has a plan to cut stamp duty which is likely to start in autumn - but many want it brought forward to begin immediately.","custom_excerpt":"The chancellor has a plan to cut stamp duty which is likely to start in autumn - but many want it brought forward to begin immediately.","created_at_pretty":"07 July, 2020","published_at_pretty":"07 July, 2020","updated_at_pretty":"07 July, 2020","created_at":"2020-07-07T08:28:57.000+00:00","published_at":"2020-07-07T08:32:25.000+00:00","updated_at":"2020-07-07T08:32:25.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nStamp duty holiday?\nThe chancellor has a plan to cut stamp duty\n[https://inews.co.uk/news/politics/rishi-sunak-stamp-duty-holiday-explained-housing-market-paralysis-497031] \nwhich is likely to start in autumn - but many want it brought forward to begin\nimmediately. Cutting stamp duty could give a boost to first time buyers and help\nto rouse the sleepy housing market. It’s likely to work by raising the threshold\nat which buyers have to pay the tax - currently £300,000 for first-time buyers\nand £125,000 for everyone else.\n\nAdviser comment \"As a typical house move takes between 8 and 10 weeks from offer\naccepted to completion, many may benefit from this reduction even if it is not\nimplemented immediately. However, we suspect some buyers might stall in order to\nget the benefit of this saving, so we’d love to see it brought forward.\"\n\nCosy £5,000\nHundreds of thousands of homeowners could get a voucher of up to £5,000\n[https://www.bbc.co.uk/news/business-53313640] to improve the insulation in\ntheir homes. Better insulation could save people over £600 a year on their\nenergy bills. The scheme is due to launch in September, and it’s part of a new\n£3 billion fund from the government to help reduce carbon emissions by making\nbuildings more efficient.\n\nAdviser comment: \"This is currently only ‘under consideration’, but for most\npeople it would still involve some cost for the homeowner. If you need your\nproperty insulating, we recommend that you start building it into your budget\nnow.\"\n\nHalfords are freewheeling\nHalfords has reported a 57% surge in their bike business\n[https://www.cityam.com/halfords-reports-cycling-sales-surge-during-uk-coronavirus-lockdown/] \nthanks to a boom in cycling as people steer clear public transport and make the\nmost of the quieter roads. The retailer was deemed essential and so was allowed\nto remain open throughout the lockdown.","html":"

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Stamp duty holiday?

The chancellor has a plan to cut stamp duty which is likely to start in autumn - but many want it brought forward to begin immediately. Cutting stamp duty could give a boost to first time buyers and help to rouse the sleepy housing market. It’s likely to work by raising the threshold at which buyers have to pay the tax - currently £300,000 for first-time buyers and £125,000 for everyone else.

Adviser comment \"As a typical house move takes between 8 and 10 weeks from offer accepted to completion, many may benefit from this reduction even if it is not implemented immediately. However, we suspect some buyers might stall in order to get the benefit of this saving, so we’d love to see it brought forward.\"

Cosy £5,000

Hundreds of thousands of homeowners could get a voucher of up to £5,000 to improve the insulation in their homes. Better insulation could save people over £600 a year on their energy bills. The scheme is due to launch in September, and it’s part of a new £3 billion fund from the government to help reduce carbon emissions by making buildings more efficient.

Adviser comment: \"This is currently only ‘under consideration’, but for most people it would still involve some cost for the homeowner. If you need your property insulating, we recommend that you start building it into your budget now.\"

Halfords are freewheeling

Halfords has reported a 57% surge in their bike business thanks to a boom in cycling as people steer clear public transport and make the most of the quieter roads. The retailer was deemed essential and so was allowed to remain open throughout the lockdown.

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