Stamp Duty rise
The Chancellor has announced an unexpected tax rise for buy-to-let and second home buyers – an additional 3% stamp duty on new purchases to raise £3.8bn over the next five years. Corporate and fund investors are likely to be exempt from the new increase. It follows on from the recent restriction on mortgage interest tax relief for buy-to-let landlords.
Taken together, these recent measures seem to show the Chancellor encouraging a shift in the residential rental sector away from amateur landlords.