The assessment of SDLT on residential property transactions has become increasing complicated, particularly with the introduction from 1 April 2016 of the higher rates of stamp duty land tax for additional properties: referred to by HMRC as HRAD, but commonly called the 3% surcharge.
As a result, we receive a large number of enquiries from clients keen to understand how this applies to their circumstances. In response we have produced a series of guides on the 3% surcharge to SDLT that can be downloaded on this page.
Other complications with residential property transactions we are familiar with include:
John is an experienced real estate lawyer, specialising in the stamp duty land tax implications of property transactions.
He has considerable experience of dealing with SDLT issues - particularly the 3% surcharge for additional residential properties. His expertise in this area is recognised by both Chambers and Partners and Legal 500. He is a regular commentator in the media and contributor to the Zoopla web page on the 3% surcharge here, which explains the outline of the surcharge and has links to other resources such as the legislation and HMRC guidance. John answers questions posted on the forum there and the linked Zoopla pages for:
Read John's full biography here.
As a full service law firm, we take pride in being able to help our clients with their property matters whether it is straight forward conveyancing or a more complex property transaction. We draw on expertise from across the firm to ensure that we are able to provide solutions to your conveyancing challenges.
Our conveyancing team is accredited by the Law Society and provides expert advice to national and international clients, visit our Residential Property page for more info. In particular you can obtain quotes for transactions from:
For leasehold reform and related landlord and tenant matters contact:
If you are buying a property with someone else you may need to consider a declaration of trust or cohabitation agreement; for more information visit our Family Law page.
For social housing issues see the information here.
Also contact Doug Smith for guidance on the Annual Tax for Enveloped Dwellings (of relevance where a company owns a residential property worth £500,000 or more).
If you are purchasing a property and need to update or create a Will, visit our Wills, Probate, Taxes and Trusts page
For charities, click here.
Click here, for dealing with potential disputes involving property.
Our SDLT expert looks at the updated guidance from HMRC. John Shallcross suggests that some areas may be misleading and confusing. If you are buying an additional residential home then make sure you read our latest blog.
The higher rates of SDLT, introduced on 1 April 2016, are intended to apply to purchases of additional residential properties, such as second homes and buy to let properties.
The higher rates of SDLT are intended to apply to purchases of additional residential properties, such as second homes and buy to let properties.