Leading law firm Simpson Millar have called on Robert Jenrick to backdate the recent SDLT changes in a letter to the Housing Minster sent today.
In the letter, Simpson Millar Head of Private Client Sarah Ryan recognises the positive intention of the changes, which have raised the threshold at which SDLT is applicable from £125,000 to £500,000 but calls on the government to “face the reality of the impact to those individuals trapped in the Covid 19 cycle.”
Says Ryan
“…we believe that you have forgotten or ignored those individuals or families who were trapped in a house move in the early stages of the pandemic. Many of these people navigated through the Government advice and guidelines; with families pulling together – and often pooling their money to pay fees whilst facing furlough and reduced salaries.
Is it really equitable to treat the public differently in such unpredictable and worrying times? We ask why didn’t the March 2020 budget face into the SDLT reduction at the time as part of the ‘timely and targeted measures to provide security and stability for people and businesses’.”
The letter calls on the government to put in place retrospective changes to SDLT to backdate the implementation 15 weeks describing the monumental effort all those involved went to, to keep the housing market going for the last 3 months.
“This will relevel the playing field ensuring all members of the public in England are treated equitably, and only then will we all be in a position to embrace the true position of ‘timely and targeted measures and provide security and stability for people and business’.
The SDLT changes have been welcomed by the conveyancing community with estate agents and conveyancers reporting an immediate surge in enquiries.
