Navigating Property Taxes in the UK: What You Need to Know

The UK government has had a focus on a number of pressing issues over the past year but one of the most prevalent that remains a talking point is the taxation of residential property. There have been a few changes that contribute towards an added complexity within the tax system. At the same time, the buoyancy of the UK property market has attracted a lot of people from overseas who want to invest in property. 


Investing in property can be prosperous and as such, it’s hardly a surprise that so many people are starting to do it. However, it is important if you are going to invest in property that you are aware of the taxation laws that will apply to you in doing so. 

Stamp Duty Land Tax (otherwise known as SDLT) is payable on a purchase of a property in the UK. The rate applicable is going to depend on the overall value of the property as depending on the ‘band’ of the value, a different rate will apply. There is a surcharge which will be applicable if the person buying the property already owns a property within the UK and will keep doing so after the purchase. The surcharge will impose an added 3% SDLT which brings the applicable rates between 3% and 15%. There are reliefs out there which could be applied to the surcharge and the circumstances in which the added 3% might be reclaimed. 

To know more about navigating property taxes

Location: United Kingdom

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