Stamp duty changes ahead for multiple and mixed-use purchases

Property buyers looking to pay reduced rates of stamp duty when buying multiple residential properties or claiming mixed use can expect a tightening of the rules following a consultation by HMRC.

The consultation has put the spotlight on Multiple Dwelling Relief (MDR) and mixed-use purchases. Under present rules, MDR allows stamp duty to be calculated based on the average value of each dwelling rather than their combined value. Mixed-use purchases are subject to lower non-residential rates.

Said conveyancing expert Paul Hughes of Nicholsons Solicitors: "Change is undoubtedly coming, and there may be a motivation to move forward with properties where such reliefs apply. However, this is a complicated area and it's worth getting specialist professional advice before proceeding."

If you would like some further information, contact us today on 01502 532300.

This is not legal advice; it is intended to provide information of general interest about current legal issues.