Property Sector Support Package

Join the campaign to extend the holiday on property tax

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:

  • Commission being included within Furlough Pay
  • Business Rate Relief
  • Property sector re-opening first
  • Property Tax Holiday

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.

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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 Hayward

Mark Hayward
NAEA 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:

  • Homeownership provides an increased sense of stability and security to people’s lives and the local communities in which they live.
  • Since the introduction of the cut to Stamp Duty/Land Transaction Tax/Land and Buildings Transaction Tax, the housing market has excelled
  • Moving to a new home has enormous knock-on benefits for the wider economy and a continued holiday on property tax would increase consumer confidence and encourage both upsizing and downsizing.
  • Extending the cut to property taxes would continue to support jobs in the sector and the wider economy.

Key statistics

  • The number of prospective buyers in November rose by 29 per cent on the previous month. This is the highest number recorded since August 2004 and the highest number since records began for the month of November.
  • The estimated average cost of moving in the UK is around £8,885, which includes costs of valuing and surveys, legal fees, building insurance, estate agent fees, mortgage costs, and broker fees. Other costs can include a removal company or temporary storage.
  • Commercial and residential lettings and sales, as well as management, support 240,000 jobs and add £13 billion of value-added to the UK economy.

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 MP, MSP, OR MS

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.

  1. Go to the website writetothem.com
  2. Enter the postcode of your office address
  3. Scroll down to 'Your MP, MSP, or MS' 
  4. Click on the name of your MP, MSP, or MS
  5. Compose your message 
  6. Fill out your details, 'preview and send' 

Tips for writing your letter

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.

  • Write to your local MP rather than directly to the Minister. You are much more likely to get a response as a constituent. They may in turn forward your request to the relevant Minister. Make sure to include your name, address, and postcode.
  • Make it personal. Try to use your own words as much as possible. MPs are less likely to respond to mass mail outs (another reason we don’t provide a template) as they don’t consider them representative of the priorities of their constituents.
  • Explain what you want them to do. State how you’d like your MP to take action. In this case, it could be passing on your concerns to the Minister. Also, confirm that you’d like a response from them.
  • Be succinct. Use short sentences and get to the point as quickly as you can. Keep the letter short (a page or two max.).
  • Use stats to back up your claims. Any points you make will have a greater impact if you can back them up with statistical information. You can use some of the information above to help you.

Tips for structuring your letter

  • Start with an introduction. Introduce yourself and explain succinctly why you are getting in touch, explaining why you care about this issue. You can also use this section to thank them for any positive work they have done so far on this topic.
  • Use the EPIC format. After the introductory paragraph use the EPIC format to structure the letter as follows:
    1. E = engage your MP with a statement or fact.
    2. P = state the problem. Explain why it is an issue and what the causes are.
    3. I = inform the MP of the solution to the problem. Develop the solution by explaining how it will work, the financial benefits, etc.
    4. C = call to action. Use this last section to say what you would like your MP to do.

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.

Social media pack #keepthemarketmoving

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Use the bullet points to quickly and easily share the campaign on Twitter, Facebook, or LinkedIn—feel free to modify them before sharing if you wish.

  • Keep the momentum in the property market going. Join the campaign to extend the holiday on property tax  (link to page)
  • We are backing the campaign to extend the holiday on property tax to avoid price falls and a sudden loss of momentum in the market (link to page)
  • The Government needs to extend the cut to property taxes to support home movers. Agree? Join the campaign today (link to page)

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Support Package twitter image

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