Stamp Duty Land Tax: 2% surcharge for non-UK residents
In the Spring 2020 Budget the government confirmed that non-UK resident who bought residential property in England and Northern Ireland will be subject to an increased rate of Stamp Duty Land Tax (SDLT). A surcharge of 2 percent will be imposed on transactions with an effective date on or after 1 April 2021. A non-resident residential purchase (for more than £40,000) of a major interest in land, where the buyer is (or, if there is more than one buyer, includes) a person who is non-resident. On 26 October 2020, HMRC…