Stamp duty land tax
Higher rate stamp duty land tax for purchases of additional residential properties
What is the 3% Stamp Duty surcharge and who pays it?
The 3% stamp duty surcharge is an addition to existing Stamp Duty rates (set out in the table below).
The extra tax applies to anyone, whether you are resident or non-resident, who is buying additional residential properties, for example, a buy-to-let or holiday home, within England, Wales and Northern Ireland. As Scotland (a devolved power in terms of property) announced a similar 3% surcharge in its own Budget, it applies to the whole of the UK. To see the official guidance please download the following:
© Thandi Nicholls Ltd 2020 All Rights Reserved – The above articles are provided for guidance only and may not cover your personal circumstances so you should not rely on them. It is important that you seek appropriate professional advice which takes into account your personal circumstances where you can provide the full facts of the case and all documents related to your case. Thandi Nicholls Ltd t/a uklandlordtax.co.uk, K Nicholls FCA or S Thandi cannot be held responsible for the consequences of any action or the consequences of deciding not to act.
Do you have a question for our experts?
If there’s a property tax issue that has you puzzled or worried, get in touch. Everyone on our team loves to talk, especially when it helps people like you find peace of mind.