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In favour of the extension to the holiday on Property Tax

January 19, 2021 Kate Porter

There has been much coverage in the press recently on the pros and cons of extending the holiday on property tax. The National Association of Estate Agents, (NAEA) have recently launched a campaign to extend the holiday on property tax and we are fully supportive of this campaign.

The property market dramatically impacts on many sectors including lenders, removal companies, storage providers, plumbers, decorators, landscapers, builders, architects, surveyors, interior designers, and furniture retailers, to name but a few. The NAEA Propertymark have stated, that since the introduction of the cut to Stamp Duty/Land Transaction Tax/Land and Buildings Transaction Tax, the housing market has shown substantially increased activity and this will have been reflected in a boost to income and the economy.

The importance of the property industry as a whole was clearly acknowledged by the government in authorising the reopening of the property sector ahead of others. To further encourage and reinforce the importance of the property market, the government instigated the campaign to #keepthecountrymoving, which we have been actively involved with. We focused our marketing on the benefits of moving to the country and to the South in particular, with its excellent commuting links combined with glorious rural life. For the enthusiasm to move to be dampened by the government would undo so much of what has been achieved under such difficult circumstances.

Therefore, we will continue in our support of the NAEA Propertymark.