The Nil Rate Band Residential SDLT will be increased in England and Northern Ireland from £125,000 to £500,000. This will apply from 8 July 2020 to 31 March 2021. This will mean nearly nine out of ten people buying a home will pay no SDLT during this time.
For residential landlords or BTL properties, we assume (awaiting guidance) that this will then mean, that on purchases of second properties, you will only be subject to the 3% additional rate. So there will still be a saving. Further details we await.
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