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Where Taxpayers and Advisers Meet

An extra 1% SDLT surcharge for overseas buyers being proposed?

SDLT Geek
Posts: 122
Joined: Sun Apr 30, 2017 5:45 pm

An extra 1% SDLT surcharge for overseas buyers being proposed?

Postby SDLT Geek » Sun Sep 30, 2018 1:27 pm

I have heard news reports today that Theresa May is now consulting with colleagues at this week's Conservative Party Conference on proposed changes to increase stamp duty land tax for buyers who do not pay UK tax. The idea seems to be that it will be an extra 1% on top of the existing 3% SDLT surcharge, but could be as much as an extra 3%. Any one else heard about this?

SDLT Geek
Posts: 122
Joined: Sun Apr 30, 2017 5:45 pm

Re: An extra 1% SDLT surcharge for overseas buyers being proposed?

Postby SDLT Geek » Mon Oct 22, 2018 11:23 am

There was an article in the Estates Gazette of 20 October 2018 speculating on the form the extra SDLT for foreign buyers could take. It mentions the experience in:
Canada (taxing those who are neither Canadian citizens nor permanently resident in Canada)
Singapore (depending on nationality and residency status)
New Zealand (where it says that only those who are "ordinarily resident" can buy.

SDLT Geek
Posts: 122
Joined: Sun Apr 30, 2017 5:45 pm

Re: An extra 1% SDLT surcharge for overseas buyers being proposed?

Postby SDLT Geek » Sat Nov 03, 2018 8:34 pm

There was an announcement with the Budget on 29 October saying the Government will publish a consultation in January 2019 on a SDLT surcharge of 1% for non-residents buying residential property in England and Northern Ireland.


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