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Clampdown on tax dodgers could snare B2L buyers

Moves to clamp down on Stamp Duty avoidance could inadvertently affect buy-to-let investors, says the National Landlords Association.

Last week chancellor George Osborne announced that those buying properties worth more than £2m via companies will have to pay 15% in Stamp Duty. The government is also consulting on an additional annual charge for such properties. If approved, the extra levy would be included in the 2013 Finance Bill and come into force in April 2013.

David Salusbury, chairman of the NLA, says: “This is likely to influence investment decisions by landlords who operate as small businesses. The NLA will seek talks with the Treasury to see whether it is possible to differentiate genuine businesses from companies set up purely for tax avoidance.”

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