Along-with new stamp duty rates, Chancellor has introduced many other new taxes to punish landlords of buy to let properties. From partial allowance of mortgage interest to non-reduction of capital gain tax on residential properties, there are many attacks which Chancellor has made on landlords since he assumed power. From 1 April 2016, a new stamp duty regime on residential sale would be implemented.
Following are the new rates:
First Home
| Property or lease premium or transfer value |
SDLT rate |
| Up to £125,000 |
Zero |
| The next £125,000 (the portion from £125,001 to £250,000) |
5% |
| The next £675,000 (the portion from £250,001 to £925,000) |
8% |
| The next £575,000 (the portion from £925,001 to £1.5 million) |
13% |
| The remaining amount (the portion above £1.5 million) |
15% |
|
Buy to let or second home
| Property or lease premium or transfer value |
SDLT rate |
| Up to £40,000 |
Zero |
| From £40,001 to £125,000 |
3% |
| The next £125,000 (the portion from £125,001 to £250,000) |
5% |
| The next £675,000 (the portion from £250,001 to £925,000) |
8% |
| The next £575,000 (the portion from £925,001 to £1.5 million) |
13% |
| The remaining amount (the portion above £1.5 million) |
15% |
|
Also read these interesting and informative blogs written by Leeds property experts experts:
Landlords under attack
New Tax Rules
Is Ltd Company Better for Landlords
Wear and Tear Tax Allowance
First Happy News For Landlords in 2016
A report on Leeds Housing Market
Always love to read your blogs. its very informative
good read!
Thank you very much for the invitation :). Best wishes.
PS: How are you? I am from France 🙂