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Detail of outcome
This document provides a summary of the responses to the consultation and the government’s decisions on the final policy design. The higher rates will apply from 1 April 2016 and are being legislated for in Finance Bill 2016.
The government announced at the Spending Review and Autumn Statement 2015 a Five Point Plan for housing, in order to re-focus support for housing towards low cost home ownership for first time buyers.
The higher rates of Stamp Duty Land Tax are part of the government’s commitment to supporting home ownership. The government is considering an exemption from the higher rates for those making significant investments in residential property, given the role of this investment in supporting the government’s housing agenda.
This consultation sets out the details of the higher rates of SDLT and seeks views in key areas of its design. Views are invited from a wide range of respondents including individuals, companies, legal professionals and representative and professional bodies.
The government will consider all responses before confirming the final policy design at the Budget on 16 March 2016.