At the end of December, BFC made representations to the Chancellor of the Exchequer expressing concerns about the...

The Chancellor lobbied on the proposed withdrawal of the Stamp Duty Holiday

At the end of December, BFC made representations to the Chancellor of the Exchequer through the All-Party Parliamentary Furniture Industry Group (APPFIG), expressing concerns about the impact that a sudden withdrawal, proposed for March this year, of the Stamp Duty Holiday could have on the UK furniture industry. The point was made that there is a strong correlation between housing market sales and furniture sales, and how consumers often buy large amounts of furniture when they move into a new home.

We added that the APPFIG would support the Government introducing a phased withdrawal of the Stamp Duty Holiday, which would allow consumers to slowly acclimatise to its reintroduction and avoid a cliff edge end to the holiday that could deter home buyers from completing purchases.

We await a response and will keep you briefed with any updates.