With the festive season following hot on the heels of the Autumn Statement you may have missed the news of the government’s plan to raise stamp duty in April 2016 on homeowners who own more than one property. This means that an additional 3% levy will be added on top of the current charge if you buy an additional residential property.
So, depending on your circumstances, whether you have a second home, a buy-to-let property, a parent who helps their children buy a property and joint owners and married couples could all face this surcharge – even those abroad who want to buy here could face a charge.
As usual the ‘finer details’ are under consultation and I’m sure there are lots of you scratching your heads asking yourself what next? The final rules will be confirmed in the March Budget but now is the time to get some advice so you know what you’re up against.
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