SDLT on Additional Residential Properties - Policy Paper Published

HMRC has today published its policy paper relating to higher SDLT (Stamp Duty Land Tax) rates on purchases of additional residential properties, such as 'buy to let' purchases and 'second homes'.

A higher rate of Stamp Duty was originally proposed in the Spending Review and Autumn Statement 2015, forming part of the government's Five Point Plan for housing, with a consultation then running between 28th December 2015 and 1 February 2016 before the final policy then came into force.

The new higher rate of stamp duty will be charged on purchases of additional residential properties from 1st April 2016, and will be three percentage points above the current SDLT rates.

Read our guide to SDLT rates for additional residential property purchases or read the full Policy Paper on the HMRC website.