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

  • Housing demand rose by a third in September to the highest level for 16 years and the number of prospective buyers reached the highest level recorded since June 2004.
  • 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' 

Unfortunately, we cannot provide set wording to speed up the process as Write To Them disregards anything resembling a copy and paste campaign. Please use the content on this webpage to respond and add in your own views too. Do forward your correspondence and replies to policy@propertymark.co.uk so we can keep track of who’s been contacted.

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  • 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

Support Package twitter image

Support Package twitter image