In the 2020 Budget the Chancellor announced that a 2% Stamp Duty Land Tax (SDLT) surcharge will apply from 1 April 2021 on purchases of residential property in England and Northern Ireland by non-UK resident purchasers. The draft legislation released on 21 July 2020 clarified how this will operate.
This latest SDLT reform increases the maximum SDLT rate for non-UK residents to 17%, although the exact rate is dependent upon the circumstances, identity and intentions of the purchaser.
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