SDLT charge looks set to stay for second homes
The Housing White Paper "Fixing our broken housing market" indicates that SDLT charges are here to stay (read more about the Housing White Paper here)
At para 4.40 the 3% surcharge got a brief mention, saying that it is right that those who buy an additional residential property should "make an additional contribution to help meet housing need".
Far from giving any indication that the surcharge would be removed the White Paper says: "We will consider whether any additional measures are needed." So it looks as if these complicated rules will be with us for a while.
The Budget is due on 8 March 2017 and it is quite likely that some "tidying up" of the surcharge rules will be done, particularly to correct the rules as to part shares in property where the wording leaves a lot to be desired.
For professional advice on SDLT, please contact John Shallcross.