Our budget views in blue: Stamp Duty Land tax
With immediate effect SDLT rate of 7% will apply to residential property at over £2m
A penalty rate of 15% will apply to residential property purchased by a “non-natural” person (e.g. company) after this limit.
This is (one could argue) a fluffy version of the proposed the “mansion tax”. The overseas company loophole on stamp duty has been closed.
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