Another stamp duty cut? How does this work if I'm near completion?

[StampDutyWhat]

I'm a first time buyer and can complete any day now. I'm hearing Liz Truss might be announcing a stamp duty cut tomorrow. My property price is above 300k so there is stamp duty I need to pay as a first time buyer.

I suppose I should hold off of completing even though the seller is getting aggravated? I wasn't in the housing market when the first stamp duty holiday was introduced so sorry if these are stupid questions: How quickly do you think it'll come into effect. Did it come into effect soon after announced last time? Any guesses if whatever is announced tomorrow will benefit me as a first time buyer about to complete?

If it comes into effect before you complete you will benefit. However if you (try to) delay completion to do so then don't be surprised if they look for you to refund their expenses and /or give them a cut of the stamp duty you would have paid.

You can probablt find online the announcement and effective dates of the last SD holiday

Martin Lewis of MSE fame said on GMB yesterday that you should consult your solicitor about what to do if you are near completion.

When it was announced in July 2020 it came into effect immediately so I’d hold off until after tomorrow if I was you.

Can you whistle ?

Certainly don't do anything before tomorrows announcement as hopefully more details will emerge

I'd hold off till tomorrow

Yes hold off until tomorrow.

Just hold off until it's confirmed. Your seller will know that other buyers will be doing the same.

I’m waiting to find out the same. We are looking to complete in the next week or so!

It will definitely come into effect immediately - otherwise nothing will complete for a while which would be disastrous