Property Taxes

Stamp Duty Land Tax (SDLT) 3% Surcharge

Posted on 01/09/2016 at 09:59

Clients will be aware that, with effect from 6th April 2016, a 3% SDLT surcharge will apply on purchases of “second homes and/or buy to let properties”.

However, the detailed rules are complex and contain a number of pitfalls including the following:

  1. If a new family home is purchased but the former main residence is retained, then the SDLT 3% surcharge will apply to the purchase of the new main residence. The SDLT surcharge can be reclaimed if the ... read more