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The stamp duty land tax surcharge on additional residential properties.
KEY POINTS
- Since April 2016 a 3% stamp duty land tax surcharge applies to purchases of additional properties.
- Legislation was amended to exempt subsidiary dwellings such as granny annexes.
- Consider purchasing several properties in separate transactions.
- Overpaid stamp duty land tax may be claimed.
As anyone who has not been cloistered with Trappist monks will know since 1 April 2016 there has been a 3% stamp duty land tax surcharge on some acquisitions by individuals of major interests in additional dwellings. The surcharge also catches the acquisition by any other person of a dwelling even if it is the first or only dwelling owned by that buyer. It does not apply to purchases of non-residential properties nor to those used for both residential and non-residential purposes.
Section 128...
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