Spending Review 2015 – 3% increase on Stamp Duty for BTL and second homes

So let me try and understand…..a person with one residential property and one buy to let. He moves home…..if sells residential to buy new residential. ….he /she will or won’t pay increased stamp duty?

Reply to the comment left by “Christopher Marsden” at “04/12/2015 – 17:48“:

They haven’t and won’t. They know which bits they can take to law and which they can’t. This is definitely anti-competitive but is not expressly forbidden in law, so I doubt there’s a case to be had.

http://www.cityam.com/229930/stamp-duty-was-already-bad-tax-buy-let-surcharge-makes-it-even-more-stupid?utm_source=TPA+Supporters&utm_campaign=895e72a4a2-151023_TPA_Bulletin10_23_2015&utm_medium=email&utm_term=0_fded8e0455-895e72a4a2-417855925&mc_cid=895e72a4a2&mc_eid=f5bcd2a33f

Reply to the comment left by “Costas Tzanos” at “04/12/2015 – 23:43“:

That was interesting. I’ve often thought we should contact the Taxpayers Alliance, but haven’t got around to it. I wonder what they think of the ‘crazy tax.’

Reply to the comment left by “Costas Tzanos” at “04/12/2015 – 23:43“:

This article confirms my view, held since the Alice tax was first proposed, that NOTHING this government is doing will actually improve the housing situation for anyone, landlord of tenant. What it will do is give the esteemed Mr Osborne a desperately needed cash cow – the consequences will be felt by the next government by which time Mr Osborne will have a nice state pension.

Further I believe that all the extra legislation being hurled at landlords will do little to improve property standards but has added a whole tranche of additional and unnecessary red tape to the business (and for the record it is a business no matter what anyone says).

All this from a government which promised no increase in taxation and a reduction in Red Tape

Reply to the comment left by “David Price” at “05/12/2015 – 08:08“:

Well said David

Reply to the comment left by “Ros .” at “01/12/2015 – 15:39“:

Exactly. I read through the whole thing, which is mainly gobbledygook to me, but with regard to the mortgage section, BoE doesn’t seem unduly concerned by the current status of the BTL sector. They raise theoretical concerns about possible de-stabilisation in the event of unexpected interest rate rises. I’d hazard a guess most of us are prepared for interest rate rises and have factored that into our plans. So in response to concerns of a possible (however unlikely) de-stabilisation, GO introduces changes which will throw the whole market into immediately devastating turmoil. That makes sense.

Reply to the comment left by “Costas Tzanos” at “04/12/2015 – 18:35“:

See comment copy/pasted below left a couple of pages back by Seething Landlord which seems to indicate from reading Paul Lewis’s blog; “not”. This of course is not a given until such time we hear this from the horses mouth:-

The position regarding the house you live in and what happens if you want to move and buy a replacement is covered in Paul Lewis’ blog at

http://paullewismoney.blogspot.co.uk/2015/11/stamping-on-additional-homes.html

I just wondering If a landlord want to change the residential property ie sell own one and buy a new one. Is that count towards 3% extra stamp duty? If yes that means we can’t move home ? ! If not then we can keep moving …. ( of course no BTL mortgage involved ) any ideas?

Cissie

Reply to the comment left by “Laura Delow” at “06/12/2015 – 07:01“:

So effectively….if you have not bought btl in Ltd company your investments now become a real liability if you want to move home. Hmmmmm.