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Reforming SDLT—the government consults on a non-UK resident surcharge

Reforming SDLT—the government consults on a non-UK resident surcharge
Published on: 06 March 2019
Published by: LexisPSL
  • Reforming SDLT—the government consults on a non-UK resident surcharge
  • Original news
  • What is this consultation about?
  • How will the surcharge (in particular the residence tests) work for individuals, companies, close companies, partnerships and trusts?
  • Individuals
  • Companies
  • Partnerships
  • Trusts
  • Will any reliefs from surcharge be available and will it be possible to obtain a refund of the surcharge?
  • How does the surcharge interact with other rates of SDLT (such as residential rates, higher 3% rates and the 15% flat rate) and reliefs such as multiple dwellings relief, charities and seeding relief?
  • More...

Article summary

Tax analysis: Following on from the budget announcement to introduce a 1% stamp duty land tax (SDLT) surcharge on non-UK residents purchasing residential property, the government has launched a consultation into a ‘Stamp Duty Land Tax—non-UK resident surcharge’. Marc Selby, tax partner at Laytons LLP, explains how the proposed surcharge will work in practice and identifies a number of issues with the government’s proposals. or take a trial to read the full analysis.

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