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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 non-UK resident surcharge will apply from 1st April 2021 and be legislated for in finance bill 2020-21.
Following this consultation, the government has published draft legislation, and explanatory note and a tax information and impact note (TIIN).
The government is committed to helping more people into home ownership but there is evidence that purchases of property by non-UK residents is pushing up house prices for UK residents. The government will therefore consult on a Stamp Duty Land Tax (SDLT) surcharge on non-UK residents purchasing residential properties in England and Northern Ireland. The non-UK resident surcharge will apply to purchases of residential property made by non-UK resident individuals and certain non-natural persons. The surcharge will apply to freehold and leasehold purchases of residential property and will be at a rate of 1% on top of all existing SDLT rates, including the rates applicable to the rental element of leasehold property.