Stamp Duty Surcharge on Foreign Buyers is Postponed
The UK Government has discarded the addition of a new one per cent stamp duty land tax (SDLT) surcharge on non-UK residents purchasing residential property in England and Northern Ireland. The measure was expected to be included in draft legislation published ahead of the 2019-20 Finance Bill.
The decision was influenced by a consultation on the SDLT proposal, which persuaded the Government to refrain from making further changes to tax rules.
Non-UK resident individuals and non-natural persons, with interest in UK residential property, will not pay the additional surcharge that was expected.
