If you already own at least one property and you buy a residential property in England or Northern Ireland, you may have to pay the stamp duty land tax (SDLT) surcharge. This can significantly add to the cost of buying a property. Higher rates of land and building transaction tax (LBTT) apply to the purchase …
The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential properties costing £40,000 or more and if all of the following conditions apply: • it will not be the only residential property worth £40,000 or more owned (or part owned) by the purchaser anywhere in the world • the …
For many the lure of a renovation project is strong and for those looking to generate rental income, doing up a dilapidated property to let out may make commercial sense. When buying an investment property, the addition of the 3% SDLT supplement means that the SDLT hit may be significant. However, as this only applies …
Back in July 2020, the residential stamp duty land tax threshold in England and Northern Ireland was increased to £500,000 to help stimulate the property market after the first wave of the Covid-19 pandemic. The increased threshold was originally due to apply from 8 July 2020 until 31 March 2021, but as the Covid-19 pandemic …
