Parties purchasing a second property whether as a second home or as a buy to let property from 1st April 2016 will be charged SDLT at a 3% higher rate across all the current SDLT bands.

From the 1st April 2016 – stamp duty payments are calculated as follows:-

  • 3% from £0-125,000;
  • 5% from £125,000 – £250,000;
  • 8% from £250,000 – £925,000;
  • 13% from £925,000 – £1,500,000;
  • 15% from £1,500,000+.

These changes will need to be built into your purchase quote for investment property.

Riley Langdon Conveyancing Team

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