The current SDLT ‘holiday’ under which the nil band for residential properties was increased from £125,000 to £500,000 was due to end on 31 March 2021. It will now be extended to 30 June 2021. Thereafter the nil band will reduce to £250,000 until 1 October 2021 when it will return to £125,000.
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Philip Collins, Partner at Winckworth Sherwood, said that it “isn’t at all surprising” that there has been a rise in contested probate claims. He said: “We know that significant amounts of wealth, often tied up in property, is currently being passed down to younger generations. Inherited wealth is becoming increasingly important and can often […]
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