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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We have just completed on the sale of a property with the assistance of Shortland Horne, Coventry. Andy Griffin was very good in all our dealings with him. Professional, friendly and honest. He valued the property sensibly and without any overblown claims. He was instrumental in the price negotiations with the buyer, creating that perfect buffer which allowed us to talk hard cash without awkwardness or embarrassment. When things began to stall in the legal part of the proceedings Andy was there again, even though his role was really over, to make sure everyone did the necessary to get things moving again. We would recommend this company and him in particular.
Deb Michlig June 27th 2020
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