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+.
