The U.K. Stamp Duty Holiday—Act Sooner Rather Than Later

One cannot help but be impressed by the performance of England’s property market in recent months. While other sectors of the nation’s economy are attempting to overcome the vast disruption caused by Covid-19, government-backed incentives have triggered a wave of investment into bricks and mortar.

This inflow of domestic and foreign capital can be attributed in no small part to the Stamp Duty Land Tax (SDLT) holiday. Since July 8, 2020, all property transactions taking place in England and Northern Ireland have been made exempt from paying the tax on the first 500,000 pounds ($675,000) of a purchase. Under the ...