Residential SDLT for Overseas Buyers - What Advisers Need to Know

Introduction

Since April 2021, an SDLT surcharge of 2% has applied to non-UK resident purchasers of residential real estate in England and Northern Ireland.

The surcharge can apply to individuals, corporates and those acting as trustees. The legislation sets out specific tests to determine residence for the purposes of the surcharge and these tests differ from the residency tests that apply for other taxes.

It is important that advisors understand the detail of when the surcharge applies, in order to fully advise clients on the tax costs associated with the purchase of residential real estate.

This webinar is aimed at lawyers, accountants and other tax advisors, who provide advice and compliance assistance to overseas buyers on the SDLT implications of purchasing real estate in England and Northern Ireland.

What You Will Learn

This webinar will cover the following:

• The rates of SDLT applicable if the non-resident SDLT surcharge applies to a transaction
• The type of real estate that the surcharge covers
• The residency tests for individuals, corporates, and trustees to determine whether the surcharge applies
• An overview of how the surcharge interacts with multiple dwellings-relief
• An update on Government proposals to reform the SDLT rules on mixed-use property and multiple dwellings relief and how this may impact the calculation of the surcharge

This webinar was recorded on 11th October 2022