Stamp duty holiday?

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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.