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LNB news: The Law Society welcomes SDLT holiday transition

05 March 2021
Categories: Legal News , Property
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The Law Society of England and Wales has published its response to the Spring Budget 2021, in which it welcomed the fact that the Stamp Duty Land Tax (SDLT) holiday will not be abruptly brought to an end and that the government implemented one of the solutions the Law Society had suggested in relation to the problem of ending the SLDT holiday on 31 March 2021
Lexis®Library update: Speaking on the solution, the Law Society stated: ‘Implementing a tapered transition from the full SDLT holiday on 30 June [2021] to the end of the scheme in September [2021] will help smooth the cliff edge and reduce the risk of a significant impact on consumers and the market.

However, the Law Society also said it was ‘disappointed’ that the government had not committed more than the £450m promised for the justice system during 2020’s Spending Review.

According to the Law Society, ‘access to justice has suffered throughout the [coronavirus (COVID-19)] pandemic as already underfunded legal aid providers have struggled to stay afloat. The consequences of this for the integrity of the justice system cannot be over-stated. We urge the government to invest further in the justice system, to ensure the public can access the justice process for the issues facing them during and following the COVID-19 pandemic.’

The Law Society also commented on the Help to Grow scheme, the furlough scheme extension, business grants, Tax Day, the business rates review and Fintech in its response.

Source: Budget response: SDLT cliff edge averted, but justice system is still on the brink

This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 4 March 2021 and is published with permission. Further information can be found at: https://www.lexisnexis.co.uk/

Categories: Legal News , Property
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