Government pulling in nearly £12,000 more in BTL stamp duty charges
Government pulling in nearly £12,000 more in BTL stamp duty charges
This extra levy increased the underlying stamp duty rate by 3 percentage points if this was not the buyer’s primary residential property – effectively pushing up the stamp duty charges on second home and buy to lets.
Research by Revolution Brokers shows that since 2016 the average stamp duty payment on a BTL property in England has increased by £11,848.
Prior to this change, the average stamp duty payment on a BTL in England was £1,953. A month later in April 2016, immediately after the rules changes were announced, this increased to £8,689 — an immediate increase of 345%.
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