The government has published its consultation document in respect of a proposed 1% surcharge on the SDLT applicable to non-UK residents purchasing residential land and property in England and Northern Ireland. The consultation period will run for 12 weeks and responses are required by 6 May 2019. The government has been clear that its motive for the proposed surcharge is to control house price inflation and that the funds generated will be used to help reduce homelessness in the UK. It is proposed that the surcharge will operate in addition to all existing SDLT rules.
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The government has published its consultation document in respect of a proposed 1% surcharge on the SDLT applicable to non-UK residents purchasing residential land and property in England and Northern Ireland. The consultation period will run for 12 weeks and responses are required by 6 May 2019. The government has been clear that its motive for the proposed surcharge is to control house price inflation and that the funds generated will be used to help reduce homelessness in the UK. It is proposed that the surcharge will operate in addition to all existing SDLT rules.
If you are not a subscriber, subscribe now to read this content.
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