Call us on +44 (0)1582 228299 or Request a Call Back

Stamp Duty concession for buy to let landlords that are renting

16 Jun 2016

If you are a buy-to-let landlord and you live in rented accomodation, you probably have until November 2018 to buy a main residence and not be subject to the 'additional property' 3% stamp duty

A Treasury consultation document published in March states that “individuals who disposed of their previous main residence before the date of the spending review and Autumn Statement 2015 should have longer to replace their main residence without being charged the higher rates”, adding that 'longer' means three years

The new additional stamp duty rates were announced in November 2015. So the consultation document means that if you are a buy to let landlord and you sold your main residence before then, you have three years from 25th November 2015 to buy a new main residence and not be subject to the additional stamp duty

Normally if a main residence is sold, a replacement needs to be bought within three years to avoid the additional stamp duty - so if you are a buy to let landlord and sold your main residence before November last year, effectively you have longer than three years

Go Global says make sure you check with your tax advisor to be sure, however, as this was a recommendation of a consultation paper.

WHAT OUR CLIENTS SAY

Having never purchased a student investment property

"Having never purchased a student investment property we were a little curious as to how it worked, the risks involved and total costs involved.... 

I looked at 5 or 6 student accommodation schemes

"I looked at 5-6 student accommodation schemes, spoke to all of them.....

Investing in any property is always a cause of some anxiety

"Investing in any property is always a cause of some anxiety.....

What pleased me most about Go Global Investments

"What has pleased me the most about Go Global Investments is their communication....