Changes to new rules for second homes follow outcry over plan to consider granny flats as second homes
The government has announced changes to the rules around the new stamp duty charge on second homes, after it emerged that people buying homes with granny flats would face higher tax bills. However, experts say there is still confusion over how much tax will be paid on properties with separate annexes or holiday homes.
The new charge, which came into force on 1 April, means anyone buying a second property will pay a rate of stamp duty land tax (SDLT) that is three percentage points higher than the rate paid on a main home costing the same. The change adds £6,000 to the upfront cost of buying a £200,000 property if it is not being bought as a main residence.
June 12, 2017 at 02:27PM
from Hilary Osborne
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