Important news has come to light regarding the imminent stamp duty 3% surcharges set to come into effect from April, which could catch out many buy-to-let landlords.
As leading letting agents in Bristol and Bath, we keep an eye on industry news – and this story was of particular interest this week.
Whilst most new taxation and financial legislation changes run from the new tax year on 06th April, it’s been announced that the stamp duty changes affecting buy-to-let landlords in Bristol and Bath will come into effect from 01st April, 2016. This could catch out many property investors and cost them £1,000’s.
It’s been estimated that the new surcharge on stamp duty for buy-to-let landlords and those buying second homes will raise £1bn for the Treasury by 2021. Our letting agents in Bristol and Bath will advise landlords accordingly.
The increase in buy-to-let investment activity across the South West now highlights that many property landlords are seeking to maximise the returns before the new stamp duty is levied on them from 01st April.
Our expert letting agents are monitoring the situation, and as a leading letting agent covering the South West, I’ll be providing expert inputs in coming weeks.
To find out more about how our expert letting agents in Bristol and Bath can help you, please get in touch here.