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Buy To Let Tax Relief

Posted on 03 June 2016
Buy To Let Tax Relief

Chancellor George Osborne has announced a 3% premium on stamp duty for buy-to-let investors and those buying second homes, aimed at raising £1bn by 2021. The Chancellor explained the new measures were to tackle the issue of second homes bought by those who live overseas, and was introduced from 1st April 2016, stating that the government will consult on the details so that corporate property development is not affected. Mr Osborne complained that many buy-to-let deals are cash purchases that are not affected by the restrictions introduced in the Budget on mortgage interest relief and many of them are bought by those who are not resident in this country.