BTL Stamp Duty, at what point does it apply?

Thrugelmir

silvercar wrote: »

I read somewhere that transactions where exchange had happened before the announcement on 25 November would still be exempt.

That's correct. Not many people exchange contracts over 4 months before completion though.

Senior_Paper_Monitor

Thank you Mr T - clearly 1st April as you say. However little detail of various definitions (including 'second home') so still much in the interpretation phase. I also notice that the Scottish and Welsh could potentially go in separate directions on this whole issue

Thrugelmir

Senior_Paper_Monitor wrote: »

Thank you Mr T - clearly 1st April as you say. However little detail of various definitions (including 'second home') so still much in the interpretation phase. I also notice that the Scottish and Welsh could potentially go in separate directions on this whole issue

The intention is clear. At least on a political level. Any holes exposed by creative thinking will soon be plugged.

Scotland already has it's own Stamp Duty rates that were brought in from April 2015. Wouldn't be a surprise if they too jumped on the back of the proposals as a measure to increase tax revenues. As does their polling ratings no harm ahead of next years elections.