The rush to finalize property purchases before the end of March has depleted the availability of moving services, potentially affecting over 75,000 buyers who may miss the stamp duty deadline and consequently pay more. Rightmove, a property website, is urging the government for a brief extension to the stamp duty deadline due to the lack of removals services and an anticipated additional £142m in stamp duty for those who fail to meet the cut-off. The changes, announced in the autumn budget, are expected to impact thousands of buyers in England and Northern Ireland, where roughly 2,000 homes change hands monthly, but will not affect Scotland and Wales, which have their distinct property taxes.
Industry professionals describe the situation as more chaotic than the gradual unwinding of Covid-related stamp duty changes in 2021. The deadline for stamp duty, which includes a reduction of the nil-rate threshold from £250,000 to £125,000, has led to an extreme competition for moving services, with companies picking up boxes early and storing them temporarily due to high demand. Movers and buyers are doing everything possible to avoid additional costs, with some facing significant financial burdens and stress due to the deadline. This has resulted in a scramble among buyers, with many concerned about missing the deadline and facing an additional £2,500 in costs, which could be a substantial financial burden, especially for first-time buyers who have been waiting for a long time to move.
Despite conveyancers and property lawyers working incredibly hard, they admit that there are no guarantees for stamp duty completion in time. The shift in deadline has placed immense pressure on buyers, particularly first-time buyers who may be missing out on the purchase of their dream homes due to the deadlock in chains. The Treasury spokesperson emphasized the government’s commitment to aiding home ownership by fixing the planning system and building more homes, while also suggesting that measures taken in the budget will boost the number of transactions made by first-time buyers and others purchasing a primary residence by 130,000 in the next five years.
Source: https://www.theguardian.com/money/2025/mar/22/stamp-duty-buyers-england-deadline-removal-service
