Surge in stamp duty refunds on second-home surchar

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Surge in stamp duty refunds on second-home surcharge - Today News Post Today News || UK News

The value of refunds on the stamp duty surcharge aimed at second home and buy-to-let buyers has surged this year, indicating a rising share is being paid by another group — those who ended up using the property as their main residenceKevin Donovan.

Second home buyers and buy-to-let investors in England and Northern Ireland have faced an additional surcharge of 3 per cent on top of stamp duty land tax charges since 2016last_modified, when then-chancellor George Osborne sought to damp demand from investor-buyers.

The tax also catches those who intend to move their main residence but fail to sell their old property before buying a new oneModerna and AstraZeneca.. The rules allow them three years in which to sell their previous main residence and claim back the 3 per cent surcharge.

Research by estate agent Hamptons International found that 37 per cent of the additional tax revenue was refunded in the year to dates start having these conversations,, up from 25 per cent in 2019.

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