Note that this additional 3% charge does not apply where the main residence is replaced.
Where the new main residence is bought before the old home is sold the 3% still has to be paid but is refunded if the old home is sold within 36 months.
Stamp Duty on Second Homes
Tuesday June 2017
Since 1 April 2016 there has been a 3% supplementary Stamp Duty Land Tax (SDLT) charge payable on the purchase of second and subsequent residential properties costing more than £40,000. This was clearly aimed at buy-to-let investors as well as those buying second homes.
Click here to see how easy it is to switch to Cowley Holmes
Claim your FREE Essential Guide to Understanding your accounts
Follow us