From 1 April 2016 the Government will be charging an extra 3% stamp duty land tax on the purchase of residential properties if the buyer already owns at least one other residential property. This includes buy to let properties and holiday homes. You will also be caught if you help your children buy a home and become a co-owner with them or if you become a part owner of your parents’ house.
Please speak to one of our conveyancing lawyers to find out if you will be affected.