Stamp Duty Land Tax - Lockton Update

For the significant number of our clients that undertake residential conveyancing, the changes to SDLT introduced in 2020 have served as a catalyst for a better than expected number of transactions completed across the English property market during the Covid-19 pandemic; “Good news for law firms” many outside commentators would be forgiven for speculating. Whilst the SDLT lever was certainly a vital instrument in 2020, as we headed in to 2021, SDLT continued to stoke debate, a number of firms were grateful for the certainty the cut-off provided, others were concerned with the “cliff-edge” impact that was likely to be experienced.