Make Stamp Duty payment flexible

Summary

Introduce Stamp Duty Land Tax payment flexibility: buyers choose between paying in full at completion or spreading the cost over 2-5 years via government-backed scheme. This could reduce upfront barriers to homeownership. Similar to other HMRC payment plans. We think the 14-day SDLT payment requirement creates affordability barriers for first-time buyers and homeowners. Buyers may have to save extra funds, on top of deposits, or increase mortgage borrowing, which could reduce purchasing power. We think short term solutions, such as temporary rate cuts create pressure for all parties in the moving process. We think a flexible payment scheme would be a sustainable solution, it would address affordability, while maintaining tax revenue, and improving housing market mobility.

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