A-Z Accounting




The July 2020 announcement by the Exchequer to give stamp duty holidays until the end of March 2021, increasing the threshold from £125 000 to £ 500 000, was very welcome news for UK buyers, helping the property market recover after lockdown.

However, these rules DO NOT apply to overseas investors who are buying properties to let and are subject to an additional 3% stamp duty on top of the regular charge when purchasing property in the UK. Yet this has not stopped intertest in buying into the booming UK rental market, especially from Hong Kong and Singapore who benefit from favourable exchange rates. Now is a particularly good time to invest before the new additional levy of 2% comes into effect from April 1st, 2021, that might impact the prime London markets.

Accounting A-Z