Commons Sense

House of Commons · Bill Debate

Stamp Duty Land Tax (Temporary Relief) Bill (Ways and Means)

13 July 2020

Proposed by Unknown

Taxation

Summarised by AI from the official record, so it can contain mistakes.

At a glance

Key points

  • The Stamp Duty Land Tax (Temporary Relief) Bill aims to modify the tax for land transactions from July 8, 2020, to March 31, 2021.
  • The bill proposes to reduce the stamp duty land tax chargeable on the acquisition of residential property during the specified period.
  • The bill has been read for the first time and will be read for the second time.

Issue summary

The statement discusses modifications to Stamp Duty Land Tax for land transactions during a specified period from July 8, 2020, to March 31, 2021.

Action requested

A Bill is presented to reduce the amount of stamp duty land tax chargeable on the acquisition of residential property for a temporary period. The bill has been read the first time and will be read a second time now.

Key facts

  • The temporary relief period begins on July 8, 2020, and ends on March 31, 2021.
  • The Finance Act 2003 is being modified to provide for reduced stamp duty land tax.
  • The Bill will be read the second time now.
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