Why rich buyers might get snookered by stamp duty, again
This month, the government published a consultation on its proposed Stamp Duty Land Tax (SDLT) surcharge on purchases of residential property in England by non-residents.
The prime minister announced her intention to introduce this surcharge – at a rate of 3 per cent – in her speech to the Conservative Party conference back in September 2018. However, in his Autumn Budget the Chancellor of the Exchequer indicated the rate would in fact be 1 per cent, and that is the proposal in this consultation, writes Jonathan Neumann.
To read more, go to Spear's Wealth Management magazine.
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