Stamp duty surcharge for overseas buyers in 2020 budget

11 Mar 2020

The Chancellor has announced in his budget of 11th March that there will be a 2% stamp duty surcharge on the purchase of property by non-resident overseas buyers.

The change will come into effect on 1 April 2021 and is payable in addition to the three percent surcharge that may already be payable if those buyers already own other property.

Despite speculation about other changes to the stamp duty regime that might have been made, particularly in relation to first-time buyers, this is the only change that was announced.

Andrew Flint

Partner

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