Stamp duty levy

[ianh100]

Thanks all for the input here. We have been given the opportunity to buy the property adjacent to our FHL. These properties have a holiday use only planning restriction so it would be good to know if this would apply (I am assuming it would as it could be used as a second home and not rented out).

We can probably complete before the end of March so not an issue. My concern is if this will reduce the value of the property by 3% in real terms.

[zebedee]

Please find the link re the Stamp Duty Tax consultation and summary from the National Landlords Association.

there is a link on that page to a summary of the changes. I doubt you will be happy.

it would appear that 25th November 2015 is a critical date for the exchange of contracts.

http://www.landlords.org.uk/news-campai ... 015Jan2016

can I apologise, I should have started this thread on the UK site rather than managing your property.

[ianh100]

Not sure what you mean, this seems to confirm that as long as I complete by the end of March then the higher rates do not apply.

[greenbarn]

It's something that EASCO are taking up with government - might be worth checking with them for ongoing developments.

[newtimber]

The government's consultation has concluded that Holiday Lets will be subject to the additional stamp duty.https://www.gov.uk/government/consultat ... properties

This is bound to effect anyone thinking of buying or selling a holiday let.