New rates of Stamp Duty Land Tax (SDLT) have been introduced from 1 April 2021 for non-UK resident purchasers of residential property.<\/p>\n
For non-UK residents purchasing residential property in Northern Ireland and England, the new rate will mean an additional 2% surcharge on existing SDLT rates.<\/p>\n
The surcharge applies to the purchases of both freehold and leasehold properties and increases the SDLT payable on rents on the grant of a new lease.<\/p>\n
It also applies to certain UK resident companies controlled by non-UK residents.<\/p>\n
It should be noted that the surcharge applies to all \u2018non-resident transactions.\u2019 Essentially this will even include transactions in which a purchaser intends to live in the property or perhaps already owns a residential property.<\/p>\n
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