The news yesterday, that George Osborne is imposing a 3% rise in stamp duty on all buy-to-let properties, will have an impact on property investors everywhere. The new rules, which come into force in April 2016, will mean that the stamp duty cost on a £300,000 property will rise from £5,000 to £14,000. Not great news.
This, coupled with reductions in tax relief due in 2017 and capital gains tax changes due in 2019, will make it harder and harder for property investors, who traditionally purchase buy-to-let properties as an alternative investment, to make any decent returns. [Read more…]