You are here: Home - Mortgages - Buy To Let - News -

Buy to let will be subject to higher Stamp Duty tax

Written by:
Second homes and buy-to-let properties will be subject to a higher rate of Stamp Duty Land Tax of 3% from next year.

Chancellor George Osborne announced in his Autumn Statement that the Stamp Duty increase will be introduced from April next year following a consultation.

Corporate property development will be unaffected by the changes. The Treasury hopes to raise just shy of £1bn in savings from the increase in Stamp Duty.

The Treasury hopes to raise close to £1bn in savings from the increase in Stamp Duty. Osborne said the savings would be reinvested in local communities in London and areas like Cornwall where residents are being priced out of home ownership.

Additional housing announcements include the creation of a new London Help to Buy scheme and Help to Buy: Shared Ownership initiative.

The Chancellor confirmed the government would double its housing budget to over £2bn per year to help deliver 400,000 affordable new homes by the end of the decade

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
pension tax relief
Osborne to launch London Help to Buy scheme

George Osborne has announced he will create a London Help to Buy scheme to address the housing crisis in the...