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.
Ways to respond
Non-Resident SDLT Consultation
Business and International Tax group
1 Horse Guards Road