Buy-to-Let – Stamp Duty Land Tax

Today the Chancellor has announced that from April 2016 Buy-to-let properties and second homes will attract an increased rate of stamp duty land tax. Purchases will attract a further 3% on the current rates, meaning that a purchase at £200,000 would attract SDLT of £3,750 instead of £1,500.

Further details will follow from the Revenue but if you are looking to purchase a second home or a buy to let property you may wish to factor this into any timescales you may have planned.

Please contact a member of the property team if you have any further enquiries