Stamp Duty Advice
Lots of people associate Stamp Duty on property, but it isn’t just on property purchases. There are 3 types of Stamp Duty:
- Stamp Duty Land tax
- Stamp Duty
- Stamp Duty Reserve Tax
In addition to this Stamp Duty is potentially chargeable if you transfer a mortgage debt between spouses. Stamp Duty Land Tax is therefore an important tax not to be forgotten when property tax planning. With the 3% surcharge on 2nd home purchases, it doesn’t just effect those in property rental businesses but it can also impact couples who both own a property.
There is also an Annual Tax on Enveloped Dwellings to consider for those who hold a property in a company in which they live.