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HMRC has published draft legislation, Stamp Duty Land Tax (Administration) (Amendment) Regulations 2021, setting out the proposed changes to the stamp duty land tax return as a result of the non-resident surcharge. It also includes new questions on the return. The measure will affect non-UK residents purchasing residential property in England and Northern Ireland, along with professional advisers who make paper returns.
The rates will be 2% higher than those that apply to purchases by UK residents. They will apply to freehold and leasehold property and increase the stamp duty land tax payable on rents on the grant of a new lease.
The changes come into force on 1 April 2021
Comments on the draft regulation should be submitted by 23 November 2020.
