Chancellor targets buy-to-let and second property purchases from April 2016

Chancellor targets buy-to-let and second property purchases from April 2016

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osborne_front_2_3235919b-2From 1 April 2016, the purchase of a buy-to-let or holiday property will be subject to an additional 3% stamp duty (SDLT).

This is a further additional tax on those who wish to invest in property as an alternative vehicle for saving, given the historically low levels of interest rates available on keeping wealth as cash.

The announcement of this change in the Autumn 2015 spending review comes hot on the back of the announcement on the restrictions on claiming tax relief for mortgage interest announced in the July Budget.

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Morrell Middleton have teamed up with Ardent Financial advisers to discuss the in’s and out’s of implementing the Governments solution to the pensions crisis – Auto Enrolment.

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