Unlikely as it seems, the Treasury has tipped-off the 909 individuals and organisations that responded to formal consultation over the stamp duty surcharge about how they can offset some of the duty on multiple property purchases.
The offset possibilities apply only to those purchasing six or more ‘additional homes’ - so most likely to be large-scale or institutional buy to let investors.
An email from the Treasury to those who responded to its recent consultation reminds them that although the surcharge - coming into effect next week, and now to apply to all additional home purchases whether by individuals or companies - there is also the little-known Multiple Dwelling Relief, already on the statute books.
“The Government … notes the existing flexibilities within the SDLT system available to significant investors in the property market, including multiple dwellings relief and the ability to pay the non-residential rates when purchasing six or more properties in the same transaction. Both of these flexibilities will remain” reads the Treasury’s email.