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

Professional landlords, caravans and mobile homes to avoid Stamp Duty hike

Written by:
Buy-to-let investors with 15 or more properties in a limited company structure will not be subject to a 3% increase in Stamp Duty Land Tax, a Treasury spokeswoman has confirmed.

During his Autumn Statement on Wednesday, George Osborne announced that buyers looking to purchase a second property, including buy to let and second homes, would be subject to a higher rate of Stamp Duty tax.

A spokeswoman for the Treasury said that while there was a consultation due to be launched shortly, the government intends to exempt limited companies with a portfolio of 15 or more properties.

The decision will be seen as a blow for smaller buy-to-let landlords who are still reeling after the Chancellor announced that tax relief for landlords would be limited to the basic rate of 20%.

Writing in an exclusive blog for’s sister title Mortgage Solutions, Bob Young, CEO of Fleet Mortgages, said: “The details suggest that it [tax hike] will not apply to ‘corporates or funds making significant investments in residential property given the role of this investment in supporting the government’s housing agenda’.

“But, what do we mean by ‘corporates’? Will this mean that purchases within any limited company structure will not have to pay the extra stamp duty rates? Another matter for the consultation period I would think.”

The new higher rates will also not apply to purchases of caravans, mobile homes or houseboats.

The Stamp Duty increase will be effective from 1 April next year with a consultation to be launched in due course.

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.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

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:
First time buyer sales reach six-year high

The number of sales made to first time buyers (FTBs) rose for the second month running in October, to the...