How has UK Stamp Duty changed since 2014 & changes affecting buy-to-let investors and purchasers of second homes.
Before 2014 a ‘slab structure’ was in place with buyers paying a rate based on the ENTIRE property purchase price. The new rates are now payable only on the PORTION of a property price which falls within each band. As with every tax, there are those who will be better and worse off compared to the previous system. Now from April 1st 2016 a new additional charge of 3% of SDLT on purchases of additional residential property above £40,000 will apply this will affect buy-to-let properties and second homes. For example the nil rate band will increase to 3% and the top slice of SDLT will increase to 15%.
The calculator below will enable you to determine what Stamp Duty will now be payable on your property purchase with and without the additional tax levied on properties that are being purchased either under a buy-to-let scheme or as a second home.
Enter the estimated value of your purchase below and click Calculate.
If you wish to see what effect the additional 3% rate would have, click the check-box and re-calculate.
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I am very pleased with the level or service provided by Shortland Horne, from the viewing to the after care sales team all the members of staff were brilliant, a special thank you to Dan and Vikki for the hard work you both out in. I would highly recommend buyer to choose Shortland Horne.Gemma December 10th 2019
Thank you shorthand horne for helping e buy my first home, i had many viewings you and team are very good. Mr Daniel helped us out alot and also thank you to Laura shortland, very good agentseshiad December 06th 2019
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