Whopping stamp duty or wait it out?

Jemma01

With the constant changes in the tenant/landlord regulations, I'm struggling to see the return on investment. I made my purchase just before the SDT went up for first time buyers, I only paid 3k, would have been nearly 10k 🤔. Can't imagine what it'd be if it was a btl

thenap80

https://forums.moneysavingexpert.com/discussion/comment/81887171#Comment_81887171

true! I won’t argue with that!

thenap80

Thanks :)

I was a landlord of a property I let out when I moved in with wife. Sold that to tenants there!
Again a landlord when I moved out of wife’s place. We now live abroad and I still manage that one.
I was thinking to buy a new place to try to make more money in Airbnb

Did want to sell my wife’s place but now one buying at moment. And if it doesn’t sell, I will be 50k down via stamp duty as I am seen as owning a place just because she has bought one before we met!!!

DE_612183

https://forums.moneysavingexpert.com/discussion/comment/81887161#Comment_81887161

Then buy a BTL in the country you are living in…

SDLT_Geek

https://forums.moneysavingexpert.com/discussion/6655598/whopping-stamp-duty-or-wait-it-out

You say later in the thread that you live abroad. In working out the £50K extra (assuming you are buying in England so the relevant stamp duty is stamp duty land tax) have you allowed for the extra 2% for non UK resident buyers, as well as the extra 5% for additional properties?

saajan_12

https://forums.moneysavingexpert.com/discussion/comment/81887038#Comment_81887038

https://forums.moneysavingexpert.com/discussion/comment/81887056#Comment_81887056

Well something back is probably the wrong track. But SDLT does feel out of place in the context of most taxes scaling with profits / income / time, whereas SDLT taxes each transfer even if it doesn't make anyone better off. Eg a property changing hands from A→B→C nets the govt more than just A→C.

However that just reinforces the principle that SDLT (especially higher rate SDLT) is supposed to be a deterrent.

penners324

https://forums.moneysavingexpert.com/discussion/comment/81887161#Comment_81887161

Should be even higher then. Hopefully the government sees sense and raises sdlt for non residents

SDLT_Geek

https://forums.moneysavingexpert.com/discussion/comment/81892387#Comment_81892387

It is a 2% surcharge for non-UK residents. There was talk of putting that up, but instead they increased the 3% surcharge (for additional properties / company purchases) to a 5% surcharge.

theartfullodger

Taxes may well go up. The country needs the money.