Stamp Duty Land Tax Increase Announced

Filed in Breaking News by on 3rd January, 2016 0 Comments

Stamp DutyGeorge Osborne strikes another blow against landlords with his proposed higher rates of SDLT to be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016.

The higher rates will be 3% above the current SDLT rates.

If you already own one property this will apply to any future second property purchase.  This includes buy-to-let and, surprisingly, main residence purchases.

An additional 3% on top of current rates adds a significant cost increase on a second purchase, particularly for a main residence.

More details via this link.

About the Author ()

Rob Crawford is the chairman of the Association of Local Landlords (Wessex). Rob is a practicing landlord with a property portfolio that includes small private residential properties and HMO's. Rob is a qualified letting agent and former owner of Kingfisher Lettings & Management. He is now a share holder of the successful online lettings company Lettingsupermarket.com.

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