Over the course of the pandemic, we have worked with Governments across the UK to get some major wins for the property industry during this difficult time. These include:
Our united efforts to campaign for a Property Sector Support Package contributed to a Stamp Duty/Land Transaction Tax/Land and Buildings Transaction Tax holiday which has supported record-breaking market activity across the UK.
The boom, caused by the property tax holiday, has been hugely beneficial for the housing market; however, the property tax cliff edge on 31 March 2021 could cause thousands of sales to fall at the final hurdle and have a knock-on and drastic effect on the housing market which has recovered well from the COVID-19 slump.
Mark HaywardNAEA Propertymark Chief Executive
We are now calling for an extension to the property tax holiday to avoid transactions falling through, price falls, and a sudden loss of momentum in the market:
It is vitally important that Governments extend the property tax holiday, so the pressure on the system can be released to allow transactions to complete and avoid a disorderly and distressing period for movers and businesses throughout the market.
Write to your local MP, MSP, or MS to ask them to extend the property tax holiday. All communication with your local representatives is important and puts pressure on them to act.
Unfortunately, we cannot provide set wording to speed up the process as Write To Them disregards anything resembling a copy and paste campaign.
Instead, we have set out some tips on how to write your letter and how to structure it. Do forward your correspondence and replies to policy@propertymark.co.uk so we can keep track of who’s been contacted.
You can dedicate a paragraph to each section, finishing off by asking to be kept informed of any progress and that you look forward to hearing back from them.
MPs are busy and have small teams of staff so it may take time to get a response. Do follow them up however if you don’t hear back.
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