Chancellor Rishi Sunak has officially announced plans to launch a stamp duty holiday for UK property buyers, in a bid to boost the market.
However, all good things do have to come to an end, and after 31 March, the holiday will end and overseas buyers will have to pay an additional 2% surcharge on stamp duty.
“Basically you are paying an extra 5 per cent as an overseas buyer,” Black Brick’s Camilla Dell summarised in a new The National News article. “This is because they must pay the 3 per cent for buying a buy-to-let or second home as well as the additional 2 per cent.”
Read more in the article here.