ATT suggests couples 'could be affected' by increase in stamp duty for non-residents

The Association of Taxation Technicians (ATT) has suggested that couples in England and Northern Ireland could be affected by a proposed increase in stamp duty for non-UK residents purchasing residential property.

20 May 2019

The Association of Taxation Technicians (ATT) has suggested that couples in England and Northern Ireland could be affected by a proposed increase in stamp duty for non-UK residents purchasing residential property.

A consultation published recently by HMRC states that non-UK residents purchasing residential property in England or Northern Ireland will be charged an additional 1% Stamp Duty Land Tax (SDLT).

Michael Steed, Co-Chair of the ATT's Technical Steering Group, said: 'We are concerned that the proposal will have an impact beyond non-UK resident investors, and is not in line with the policy aim of helping UK residents to get on the housing ladder.

'Under the proposal, the additional rate will apply to joint purchases of property if either of the purchasers are non-UK resident. This means that the measure will affect couples who wish to purchase a house together in the UK, with one of them intending to live in it immediately but the other currently living or working abroad.'

The increase would only affect couples in England and Northern Ireland, where SDLT applies. SDLT was replaced by Land Transaction Tax (LTT) in Wales, and by Land and Buildings Transaction Tax (LBTT) in Scotland.

Browse our library section

Great tips and advice you can download

Find out more

Follow us on Twitter

Copyright

© 2020 Lawrence Grant. All rights reserved. We use cookies on this website, you can find more information about cookies here.

Lawrence Grant

We are a member firm of the Institute of Chartered Accountants of England & Wales (ICAEW). Registered to carry on audit work in the UK and Ireland. Our Insurer is Prosure Solutions (per W R Berkley , and IGI), 34 Lime St, London EC3M 7AT (worldwide, excluding North America). Also an independent member of GGI, a multidisciplinary worldwide association of accountants, tax consultants & lawyers.