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Changes to Stamp Duty Land Tax for non-UK resident individuals and companies

From 1 April 2021, different rates of Stamp Duty Land Tax (SDLT) applied to non-UK resident individuals and UK resident close companies controlled (directly or indirectly) by non-UK residents, who purchase residential property in England and Northern Ireland.

A 2% surcharge is applied to these purchases on top of the usual rates (and the 3% surcharge for property purchases and purchases by companies). This means the top rate SDLT is now 17%.

There is plenty of scope for confusion here as the ‘residence’ test for these purposes is not in line with the statutory residence test. Instead it requires UK presence for at least 183 days in the 12 month period before the purchase. As such, it is possible to be UK tax resident for income tax, for example, but non-UK resident for SDLT.

For further information on the changes, please contact Gemma Hedges on 023 8046 1259.

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