Brunch Bites (the new virtual Breakfast Bites!)

  Tue, 08/12/2020
  11:00  –  12:00

From 1 April 2021, not only will residential property purchasers (or more likely their conveyancers) need to consider whether the 3% surcharge for second homes applies, but also whether a new 2% surcharge applies for a non-resident purchaser, or possibly both. They will need to apply a new residence test, different to that used in income tax, and, if apparently non-resident, consider whether any of the exceptions apply. 

The practical effect of the legislation is such that the starting SDLT rate for a residential property is now effectively 5%, rising to 17%, and conveyancers will need to be able to show that a purchaser qualifies in order for the nil rate band to apply. 

This further complicates a tax that has already changed beyond all recognition. From April, there will be 14 different SDLT rate scales that can apply to a property transaction, and property professionals need to be ready for the change. 

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Robert Bailey, Tax Director

Robert is Bishop Fleming's lead adviser on SDLT and Stamp Duties, including the Scottish & Welsh variants. He is also an expert on other property orientated taxes, including Annual Tax on Enveloped Dwellings (ATED), Construction Industry Scheme (CIS) and capital allowances.

Robert is an experienced presenter and commentator on tax matters, and his other specialisms include: international tax and the Statutory Residence Test, Capital Gains Tax (CGT) and especially principal private residence matters, employment status, tax enquiries and corporate tax advisory work. 

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We look forward to you joining us!


Please note this webinar is for information only. The contents of this webinar does not constitute professional advice and no action should be taken without seeking professional advice first. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by the authors or the firm.

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