What Is The Stamp Duty on a Second Home?
As per 2015’s Autumn Statement, there is an additional 3% rate of Stamp duty Land Tax (SDLT) on purchases of additional property, such as Buy to Let properties and second homes. This came into effect on April 1st 2016.
The only caveat to this is that second properties under £40,000 do not have to pay the additional 3% of stamp duty.