Holiday homes abroad will be included when assessing whether a buyer is liable for increased SDLT for second homes and buy-to-let properties

Darren Millis | Feb 2016

The increased SDLT charge for second homes and buy-to-let properties is to apply to:

  • Foreign investors and people not domiciled in the UK in exactly the same way as UK residents.
  • Persons owning another property anywhere in the world and purchasing an additional property in England, Wales or Northern Ireland

As a reminder the calculations for completions from 1 April 2016 will be (on any consideration over £40,000) :

  • 3%: £0 – £125,000.
  • 5%: over £125,000 – £250,000.
  • 8%: over £250,000 – £925,000.
  • 13%: over £925,000 – £1.5 million.
  • 15%: over £1.5 million.

Those with other real estate assets throughout the world (not only in the UK) need to be cautious of triggering the charge.

If you need help and assistance in respect of any property issues then call the Property Team on 01908 689319 or email dmillis@geoffreyleaver.com

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Categories: Commercial Property