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.
For more details please visit this link.
Should you have any questions please contact Roger Wareham, a partner in our Bournemouth office, at roger.wareham@saffery.com
