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The fifth sitting of the Public Bill Committee on Finance Bill 2016.
KEY POINTS
- Non-residential and mixed property transactions will have new rates and bands.
- New rates of SDLT for purchases of dwellings by individuals who already own other dwellings.
- There will be particular limited exemptions where additional properties are purchased.
- Relief from the 15% SDLT where property is acquired as business premises or for conversion or demolition for use for particular purposes.
- SDLT relief for the ‘seeding’ of properties into property authorised investment funds.
The fifth sitting of the Public Bill Committee continued its debate on Finance Bill 2016 by considering clause 116 ‘SDLT: Calculating tax on non-residential and mixed transactions’. This clause changes the way that stamp duty land tax (SDLT) is calculated in relation to non-residential property transactions and transactions involving a mixture of residential and non-residential...
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