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new SDLT relief for bulk residential purchases

5 August 2011

Buyers acquiring multiple residential properties in one go may be able to pay less Stamp Duty Land Tax (SDLT) than before.

The relief was announced in the Budget earlier this year but has only recently come into force (from 19 July 2011).

Instead of the existing linked transaction rules which use the aggregate purchase price to set the rate of SDLT, this new SDLT relief uses the average price of the residential properties being bought to set the SDLT rate. For multiple residential purchases this could provide up to a 3% SDLT saving.

The relief could be great news for bulk buyers in the residential sector. But as ever with SDLT the devil is in the details, which could restrict how much relief is available to begin with or lead to claw back of relief later, depending on the circumstances.

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