The Autumn Statement of 2015 saw the announcement of higher rates of Stamp Duty Land Tax to be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes. The effects, which came into force on 01st April 2016 are being felt across the market by more than just landlords with many consumers facing confusion over whether they are liable for additional Stamp Duty rates.
With further tax changes from April 2017, our Stamp Duty Land Tax Overview provides a helpful summary of the tax implications involved in the purchase of an additional property.
