Fifteen per cent higher stamp duty rate for companies buying residential properties now kicks in at £500,000

By Emily Kozien-Colyer and Guy Martin

The chancellor’s 2014 Budget, announced on 19 March 2014, set out a number of changes and extensions to the post-2012 stamp duty land tax (SDLT) regime.

The 15 per cent SDLT rate was initially introduced in April 2012 and applied where a company bought a ‘single dwelling’ property for more than £2m. The chancellor was clear that these provisions were intended to deal with stamp duty tax avoidance in relation to purchases of residential property.

A new legislative schedule was introduced to deal with the 15 per cent rate, as a self-contained regime. As a reminder, the key provisions of this schedule are…

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