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Thursday, March 10, 2016

Landlord stamp duty surcharge

Landlords will face a 3% stamp duty surcharge from the 1st April 2016 because of the Governments proposals outlined in the Chancellors Autumn Statement.  However the changes will not be formalised and given detail until the 16th March in the up coming Budget.  This gives the Chancellor a chance to change his mind or water down proposals.  His willingness to rethink was evidenced by the recent pension rethink.

Will the Chancellor rethink his stamp duty changes?

I'm not optimistic in this case that the Chancellor will reverse his recent stamp duty changes.  Landlords are seen as one of the prime beneficiaries of the low interest environment brought about by Government policy.  In the eyes of the politicians they giveth and therefore they have the right to take back excess profits in higher property taxes for landlords.  We will see...

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