The key property taxation provisions in the autumn statement.
KEY POINTS
- Stamp duty land tax increases for “additional residential properties”.
- Higher charge if an individual purchases a residential property while retaining their original one.
- If applicable the rate will be increased by 3% and a lower threshold will apply.
- Proposal that from April 2019 capital gains tax on residential property will be payable 30 days after disposal.
- Good news: extension of ATED and SDLT reliefs if a residential property is held for an equity release scheme.
Last year’s autumn statement contained a few surprises in relation to property taxation. The biggest announcement in this regard was arguably the changes to the stamp duty land tax (SDLT) treatment...