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Buyer beware
Key points
- The rate of stamp duty land tax (SDLT) increased by 2% for non-resident purchasers of residential property in the UK from 1 April 2021.
- These rules can be surprisingly broad and catch those who might suppose the non-resident SDLT surcharge did not apply to them.
- A key concept is whether a transaction is a ‘non-resident’ one. This generally requires only one purchaser of a group to be non-resident for the surcharge to apply to the whole transaction.
- The tests to determine whether a purchaser is non-resident for SDLT should not be confused with the statutory residence test for other taxes and there are also special cases.
From 1 April 2021 the rate of stamp duty land tax (SDLT) increased by 2% where a purchaser is non-resident. These rules can be surprisingly broad catching those who might suppose they were free from the increased tax...
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