The costs of a ‘buy to let’ or a second home are about to increase in the first of the chancellor’s tax changes, which affect second homes and particularly ‘buy to let’ properties. From 1st of April a 3% surcharge on SDLT or ‘Stamp Duty’ will kick in, which means that on a property of £180k, there will be an additional £5,400 in tax on purchase costs. Most affected will be ‘buy to let’ landlords who are on thin margins, as this tax increase puts pressure on their yields from the offset.
This, coupled with the loss of interest rate relief, will come into effect in 2017; landlords will have to work even harder to generate a profit on their income. So if you are a landlord looking to purchase before the rules change, or a landlord looking to offload underperforming stock, there is just time to get transactions through to completion before this year’s deadline on April 1st. Call us now if you would like us to act for you and help get your transaction over the line.
DG Law were fantastic throughout our purchase process. We had a short, fixed, timeline to
Venetia Lawson-Cruttenden [solicitor] is fantastic! She is always so thorough and efficient and gives you the
DG Law supported us through a very difficult contractual negotiation to achieve exactly the outcome
We were very pleased with the way that DG Law helped us on our transaction
Thanks for all the help from DG Law in pulling together our somewhat complicated loan.
DG Law resolved a difficult lease renewal for us and their services were excellent –
I needed understanding and experienced legal advice. DG Law provided an excellent service at a
My experience was second to none – the service was professional and personal. DG Law
DG Law always step up to the plate on our transactions and handle the various
DG Law was recommended to me and my partner and I received excellent advice –
Having worked with DG Law a number/couple of times now, I have been really impressed
DG Law were constantly at hand, and kept pro-active throughout the thorny process of getting
DG Law organised and ran a very useful session to help to make our team’s
DG Law came recommended to me and whilst setting up a new business it was
We were recommended three lawyers to handle the sale of our seven year old successful
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