Does it affect me?
Question Does the new 3% additional stamp duty land tax (SDLT) on second homes and buy-to-let properties affect a builder or property professional buying additional properties to renovate and sell on as a trade, and not as an investment?
Arthur Weller replies:
See www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties, published on 28 December 2015. At the time of writing, this is the latest guidance we have from the Government on this subject. The Government are currently consulting on finalising the rules. In Example 37, you can see that property developers will have to pay the additional 3% SDLT.
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