What is the stamp duty holiday?
Stamp duty land tax is a lump sum payment that those buying a property or piece of land over a certain price have to pay. The rate a buyer has to pay varies depending on the price and type of property, but generally you would expect to pay more stamp duty the higher the property is worth. Last year, the government announced that it would temporarily raise the stamp duty threshold from £125,000 to £500,000 for property sales in England and Northern Ireland.