As it stands the main changes which are due to take place are:
- 3% surcharge for overseas purchasers.
- Overnight so change is instant.
- Last summer Prime Minister Boris Johnson said during his Tory leadership campaign that he would consider raising the stamp duty threshold from £125,000 to £500,000 and cutting the top SDLT rate from 12 to seven per cent. By the time of last month’s General Election the only firm commitment regarding stamp duty in the Conservative manifesto was to create a three per cent stamp duty surcharge on non-UK resident buyers.
Below are some articles you may find useful surrounding the topic:
https://www.thetimes.co.uk/article/the-great-stamp-duty-gamble-what-happens-next-h789lhbq7
https://www.farrer.co.uk/news-and-insights/stamp-duty-land-tax-reform-coming-soon/
