Budget 2011: Stamp Duty for investors to be reformed

In a boon for landlords, the government aims to boost demand for residential property and promote the supply of private rented housing by reforming Stamp Duty to make investment in residential properties easier. Investors in multiple property purchases will now be charged Stamp Duty according to the average value of the properties they have bought rather than on the combined value as it currently stands. The change will be subject to a minimum rate of 1%. In addition, the government aims to boost the private rented sector over the long term by making Real Estate Investment Trusts e...