When the original announcement was made in the Autumn Statement by the Chancellor, he proposed that investors with 15+ properties might be exempt from the 3% stamp duty surcharge when making purchases of additional residential property. The surcharge came into effect on 1 April 2016.
Then in the consultation paper published at the end of December the stance was changed suggesting that it may be more appropriate to target an exemption based on the bulk purchase of at least 15 residential properties.
So landlords who already own 15+ will not be exempt as stated in the final policy.
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Last updated: 04/01/2017