Stamp Duty on Buy-to-Let Property

November 26, 2015 1:45 pm

feat_buy_sellStamp Duty on Buy-to-Let Property

As you have probably heard by now, the Chancellor George Osborne has increased Stamp Duty on Buy-to-Let (BTL) property from 1 April 2016.  The table below is from HM Revenue and Customs and sets out the impact this will have if you buy a BTL property from that date.

If you add in the loss of mortgage interest tax relief beginning in April 2017, then this means that landlords will need to look again at their figures carefully.

Commercial investors with more than 15 properties are expected to be exempt from the new Stamp Duty rules.

If you have any questions about how this will affect you, please give us a call on 01522 687500 or email us at enquiries@pagenelson.co.uk

 

Stamp Duty Rates (on purchases)

Property Value          Standard rate          Buy-to-let/second home rate (April 2016)

Up to £125,000        0%                              3%

£125 – £250,000      2%                              5%

£250 – £925,000      5%                             8%

£925 – £1.5m           10%                           13%

over £1.5m               12%                           15%

Source: HMRC