How the UK property market will need to adjust to SDLT changes: Lucy Barber writes for Eprivateclient
Head of Residential Property, Lucy Barber’s article entitled ‘How the UK property market will need to adjust to a new tax regime’ has been published in Eprivateclient.
With non-UK residents having to pay a two percent surcharge on Stamp Duty Land Tax from 1 April 2021 onwards, Lucy’s article explores how this might impact the residential property market. Alongside an increase in the number of property transactions between now and April, Lucy expects the market to deflate once the SDLT holiday ends and the surcharge is introduced.
She additionally goes on to highlight the continuing uncertainty that Covid-19 and Brexit bring, and how a combination of these factors may drive the market to “a crashing halt”. Further tax complexities are likely to arise for non-UK resident buyers who will need to clarify their resident status.
Read the full article here, behind the paywall.
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