SDLT has received a lot of attention as a result of the SDLT ‘holiday’ which allows a purchaser to benefit from lower rates when buying residential property.
Usually the maximum tax saving which can be achieved by the lower rates is £15,000, however, if a purchase benefits from Multiple Dwellings Relief (“MDR”) a purchaser can get multiple bites at the cherry.
Each dwelling can benefit from a reduction of up to £15,000 so the savings can be significant.
The holiday will be in place until 31 March 2021, if your purchase is due to complete around the cut-off date please contact our expert below for help.
For further information about MDR please click here.