On 28th December 2015 the government published a consultation document on the proposal, previously announced by the Chancellor in the Autumn Statement on 25th November 2015, to charge higher rates of SDLT on purchases of additional residential properties.  The consultation document is available here.

The document confirms that the higher rates will be 3% above the current SDLT rates which apply to residential property and will take effect from 1st April 2016. (However, the transitional rules which are to apply in respect of contracts which are exchanged before 1st April 2016 and which are completed on or after that date were detailed in our previous note, which can be viewed here).