Royal Assent has now been granted, this means that the proposals put forward in the budget (as amended) are now law. For serious property investors this offers possibilities of reducing Stamp Duty Land Tax by making a making a number of simultaneous purchases of different properties.
As you may now pay the mean average SDLT from multiple purchases.
The effect of the relief is that buyers of two or more residential properties which are “linked” can claim a relief to have the total consideration taxed at a potentially lower rate. (Subject to a minimum rate of tax at 1%.).
Now before you dismiss this as another “only applies to the rich” tax perk, for anyone contemplating buying a new house (whether as a home or for investment), consider also buying a property in a much lower priced area. Your saving in SDLT may be sufficient to warrant an additional investment.
This will provide some interesting opportunities.