Should the stamp duty holiday be made permanent?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 28 February 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rumours are swirling ahead of the Budget that Rishi Sunak will extend the stamp duty holiday by three months?

The idea is that this would help stop the collapse of chain after chain as buyers pull out, renegotiate or have to find more money if they miss the deadline.

The excuse being given is that conveyancing delays are holding up sales.

But wouldn't a three-month delay just kick the can down the road by another 12 weeks and lead to another cohort of buyers potentially affected?

Would it be better to just make the stamp duty holiday a permanent vacation?

Cut the tax properly, with no time limit, accepting that high stamp duty tax is a barrier to people moving?

On this week's podcast, Georgie Frost, Grace Gausden and Simon Lambert discuss the stamp duty break, whether it was a good idea and whether it should be extended or the tax cut altogether.

Also this week, Grace fills us in on the latest Grace on the Case and Simon puts forward his idea for improving Isas.

And finally, you might be bold enough to book an overseas holiday but would you be brave enough to start a travel company now?

Transcript

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0:00.0	Welcome to This Is Money podcast. I'm Georgie Frost and alongside me and editor Simon Lambert today is reporter Grace Gawston.
0:06.9	And coming up, Budget Day is fast approaching and so too is the stamp duty deadline.
0:12.3	The latest suggestion is a three-month extension. Will we get it? Should we get it?
0:17.3	Simon calls on the chancel, though, to solve another problem, the mess of the ISIS system. Grace is back on the case, solving the problem of the mess of a garden wall. Surely you'd have to be crazy to set up a travel agency in the middle of a global pandemic and pure enjoyment with no strings attached. That was Pinocchio's 1940s tagline. 10 points if you got it right. Oh, how things have changed.
0:38.4	Disney Plus becomes the latest streaming service to hike its prices up 33% this week,
0:43.0	which though is the best value for money.
0:45.1	Don't forget.
0:45.6	Stay up to date with all the latest breaking money news.
0:47.5	Just go to this ismoney.co.uk or download the app at first.
0:51.3	Definitely yes, definitely no.
0:53.2	Six weeks, three months. Will we get a
0:55.8	stamp duty extension? And if so, for how long? Not so people asking this, including one of
1:00.9	your readers. Who says, I'm going to go here first. I'm going to go into read a question. We
1:05.6	don't normally do those first, but this is something I imagine a lot of people are asking at
1:08.9	the moment. We've just agreed the sale of our home and the purchase of a new one, costing 600,000 pounds. There's no chain beyond these two transactions. Now, we've been working on the basis. There was no way we'd benefit from the stamp duty holiday, but now I've read it could be extended for three months. Would we be able to get the deals done in that time
1:28.2	and benefit from the extended break if it comes
1:30.8	and when would that be announced?
1:32.9	Now, I assume, Simon, it would be announced
1:34.7	in next week's budget.
1:36.8	What do you reckon?
1:37.8	I reckon there's a lot of interesting things
1:39.7	to unpack in this kind of question.
	...

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