Article preview: The Association of Taxation Technicians (ATT) has warned that couples could face a new property tax, unintentionally falling into the scope of new tax rules. The issue arises due to planned stamp duty hike for non-UK residents buying UK residential property. Despite being targeted as foreign investors, the new tax could have a wider reach and trap some couples too. In their consultation response to HM Revenue & Customs, the ATT warns that the higher stamp duty could catch couples where either of the buyers is non-UK resident.
Could couples face a new property tax?
This 605-word blog post explains a new warning from the Association of Taxation Technicians that the introduction of a different residency test for an additional stamp duty land tax charge could result in some couples paying higher property taxes when they buy residential property in the UK. Written on 17th May 2019.
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