DarrenTMH

As stated above, SDLT is just a revenue generator and has for the most part been a pretty easy one to milk for the government, especially over a decade of unprecedented growth in property values. The rates of SDLT payable on purchases remain as they were under the previous government for now, and whilst there is talk of changes, the new government have got a pretty packed agenda so it may be some time before any changes are made - current SDLT rate tables can be viewed here. Most of the feedback I've seen suggests that the FTB holiday is of limited value to a limited demographic. What is less limited however is the existing and increasing SDLT bill for all other buyers at 3%, 4% and (potentially) soon to be 5%. There's also been an increase in the rumblings going around about the government’s desire to bring an end to SDLT avoidance schemes, and you can understand them wanting to nip this in the bud before they lose huge revenues as this practice becomes more commonplace. I’ll certainly be watching this area with interest as Counsel on both sides play cat & mouse with the ever more complex legislation that is created to keep the indirect taxes flowing, although I suspect (as has always been the case) that as one door closes another will click ajar. For the time being, and probably very soon after any changes that do come in have been implemented, the smart property purchasers will continue to avoid paying stamp duty on property purchases in the UK through the legal methods currently available, just as the previous government’s own party did with the £210,000 SDLT bill that was deftly avoided in the purchase of their London HQ building in Millbank (you can read the details of this in this article by The Independent).