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Purchasing a second property comes with additional costs, including a Stamp Duty surcharge, that can significantly increase your overall outlay. What is Stamp Duty on second homes? When you buy a residential property in England or Northern Ireland, Stamp Duty Land Tax (SDLT) applies to any portion of the purchase price above a set threshold. This applies whether the property is freehold, new or...
If you are buying a residential property in England or Northern Ireland, and are not a UK resident, you will usually be liable for an additional 2% non-UK resident Stamp Duty Land Tax (SDLT) surcharge that will apply on top of the normal residential SDLT rates. Which properties are subject to the additional 2% Stamp...
The Law Society has warned that agents claiming to be able to secure Stamp Duty Land Tax (SDLT) refunds are putting property buyers at risk of substantial future bills. Conveyancers have contacted the Law Society saying that there has been a spate of organisations with “little or no expertise in the tax” and who “pay...
If you’re buying a home in Wales, you won’t pay Stamp Duty Land Tax (SDLT) like in England or Northern Ireland. Instead, the transaction is subject to Land Transaction Tax (LTT), which applies to most residential property purchases. This includes first homes, second homes, and buy-to-let investments. How Land Transaction Tax Works LTT is a Welsh property tax applied on the...
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