It is expected that today, 8th July, Rishi Sunak will unveil a host of financial packages to help the recovery after the Covid-19 pandemic.
Among those changes is a possible suspension of stamp duty payments to try and encourage the housing market to recover.
This could mean that buyers of properties up to a certain value (possibly £500,000) may not need to pay any stamp duty when moving house – but we will update you here as soon as the full details are announced.
Mr Sunak is due to make his speech at around 12.30pm today.
Currently there is already an exemption for first time buyers on the first £300,000 of the purchase price (for certain transactions, see here for more details) so this additional exemption would likely include all buyers.
If you want to calculate how much stamp duty you might need to pay on a property transaction then you can use our online calculator.