Residential SDLT Update 2018

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Contents

Residential rates became progressive in December 2014. This has an impact on calculating SDLT on linked transactions. Then, from 1 April 2016 a 3% surcharge was imposed, but was changed significantly on 22 November 2017 – the date when first-time buyer relief was also introduced. Topics include:

• The surcharge on additional dwellings and dwellings bought by companies.
• The types of dwelling that may be surcharged
• The two exemptions in detail, and some anomalies.
• The changes made on 22 November 2017
• Differences between buying single and multiple dwellings.
• The application of Multiple Dwellings Relief to the surcharge.
• The elements of first-time buyer relief.

Learning Objectives

Residential rates became progressive in December 2014. This has an impact on calculating SDLT on linked transactions. From 1 April 2016 a 3% surcharge was imposed, from which there are only two exceptions. This video deals with the following recent changes and issues, illustrated by examples. You will learn about:

• Linked transactions under progressive rates.
• The 3% residential surcharge on additional dwellings and dwellings bought by companies – and the changes made on 22 November 2017.
• The only two exemptions available.
• Time limits coming into effect on 26 November 2018.
• The application of Multiple Dwellings Relief to the surcharge.
• First-time buyer relief.

Speaker

PAUL CLARK

Paul Clark has been a consultant at Cripps LLP since 2003. He was head of property at DJ Freeman and before that a solicitor at Linklaters & Paines. Paul has experience in major projects, development, shopping centres, landlord and tenant, land registration and SDLT.  A plain language enthusiast, responsible for many standard forms, including the RICS common auction conditions. Former chair of the City of London Solicitors Company Land Law Subcommittee. Member of the Stamp Taxes Practitioners Group. Conveyancing Editor of ‘The Conveyancer and Property Lawyer’. Writes for isurv, the surveyors’ on-line legal service.