Stamp duty holiday set to save homeowners £500m

Research from the estate agency Benham and Reeves shows 85% of homebuyers have paid no tax on their newly bought property as a result of the Chancellor’s stamp duty holiday. However, the figure excludes properties bought as buy-to-lets and homes bought in September. Land Registry figures reveal the stamp duty holiday cost the Treasury £100m in July and August. Marc von Grundherr, a director at Benham and Reeves, estimates that the total sum could be as large as £524.9m.