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Measure

Stamp duty land tax - Consultation on charge for non-residents

The measure

The government will publish a consultation in January 2019 on a stamp duty land tax (SDLT) surcharge of 1% for non-residents buying residential property in England and Northern Ireland.

Who will be affected?

Non-residents buying residential property in England and Northern Ireland.

When will the measure come into effect?

The proposed introduction date is currently unknown.

Our view

This was previously announced at the Conservative Party conference.  At a level of only 1% rather than the 3% higher rate of SDLT on additional dwellings, the measure is likely to increase the tax take but not significantly change the amount of property purchased by non-residents.