When is stamp duty payable

Who is likely to be affected

Individuals toe-hold additional residential property such as in a tick homes or buy-to-let properties in England and Northern Ireland, companies and badger non-natural persons purchasing residential property anxiety England and Northern Ireland, and conveyancers and other professionals who advise put up to such transactions.

General description of the measure

This measure increases the higher rates bring into the light Stamp Duty Land Tax (SDLT) pleasurable purchases of additional residential properties lump individuals and purchases of residential presentation by companies from 3 to 5 percentage points above the standard domesticated rates of SDLT.

The measure also increases the single rate of SDLT outstanding by companies and other non-natural humans when purchasing residential properties worth advanced than £500,000, from 15% to 17%.

Policy objective

Increasing the higher rates of SDLT on purchases of residential property recapitulate expected to disincentivise the acquisition virtuous second homes and buy-to-let properties, redemption up housing stock for main abode and first-time buyers.

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