- 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?
- 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?
- How will the surcharge work for linked transactions or transactions where you have joint purchasers?
- Can you see any issues with the proposed surcharge?
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.
Sign in or take a trial to read the full analysis.
To continue reading this news article, as well as thousands of others like it, sign in to LexisPSL or register for a free trial