sdlt.co.uk

May 2011 - Draft guidance published for SDLT relief involving multiple dwellings

12th June 2012

11.05.11 - "HMRC have published draft guidance on SDLT reliefs for transfers involving multiple dwellings. In the 2011 Budget, the Chancellor announced details of a new SDLT relief which will benefit purchasers of residential property who acquire more than one dwelling. The new relief will apply to qualifying transactions where the effective date is on or after the date of Royal Assent to the Finance Bill 2011.

Where the relief is claimed, the rate of SDLT will be determined by the mean consideration for the dwellings (i.e. to pay SDLT by reference to the appropriate SDLT rate applicable to the average value and not the aggregate value). The relief is subject to a minimum SDLT rate of 1%."

Draft details can be found here: http://www.hmrc.gov.uk/so/draft-guide-multi-dwell.pdf and examples can be found here: http://www.hmrc.gov.uk/so/examples-multi-dwellings.pdf

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