New Years Resolution to Save Tax – Relief from Additional 3% Stamp Duty Land Tax Charge

New Years Resolution to Save Tax - Relief from Additional 3% Stamp Duty Land Tax Charge

Much of the focus in the Autumn Budget on Stamp Duty Land Tax (SDLT) concerned the abolition of the duty for first time buyers of property up to £300,000. There was also welcomed news for those involved in other property transfers where the 3% supplementary SDLT charge potentially applies when an interest in a second property is acquired.

The 3% supplementary charge will not now apply where a court order issued on a divorce or dissolution of a civil partnership prevents someone from disposing of their interest in a main residence or a spouse buys property from their spouse. There are a couple of other situations where the 3% supplement does not apply. This is something to check with your solicitor.

 

Share This

Copy Link to Clipboard

Copy