Stamp Duty Land Tax: Foreign Nationals

(asked on 30th November 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect on revenue accruing to the public purse of setting the Stamp Duty Land Tax non-UK resident surcharge at (a) 3 per cent and (b) 5 per cent; and if he will make a statement.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 8th December 2020

The new rates of Stamp Duty Land Tax for non-UK resident purchasers of residential property in England and Northern Ireland are set to be 2% higher than the rates applying to UK-resident purchasers. The expected revenue will be used to tackle rough sleeping and is set out on page 35 of the “Policy Costings” document published alongside the Red Book at Budget 2020.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/871948/Budget_2020_policy_costings.pdf

No assessment has been made of the effect of a 3% or 5% Stamp Duty Land Tax non-UK resident surcharge.

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