I'm considering purchasing a second home in England for £400,000. What would be my estimated stamp duty liability? Additionally, I'm curious about the stamp duty rules for non-UK residents. Are there different rates, and what is the current surcharge percentage for non-UK residents?
Navigate to 'https://www.stampdutycalculator.org.uk/'. Locate the 'Sdltform Form' and enter '400000' into the 'Purchase Price' field (ID 134). Ensure that the 'Buy to let & second homes' option is selected or that the calculator accounts for it (if an explicit option is not present, assume the default calculation applies to standard rates, and then look for information regarding the additional surcharge for second homes). Click the 'Calculate image link' (ID 137) to determine the stamp duty liability. Note the calculated stamp duty. Click on the 'Non UK residents' link (ID 104) in the 'SDLT Sections' menu. Identify and state if there are different stamp duty rates for non-UK residents. Find and state the current surcharge percentage applied to non-UK residents. Synthesize the calculated stamp duty for a second home and the information about non-UK resident surcharges.
The agent successfully navigates to the calculator and inputs £400,000. The agent states the calculated stamp duty liability for a £400,000 second home in England. The agent successfully navigates to the 'Non UK residents' section. The agent states whether different rates apply to non-UK residents. The agent states the current surcharge percentage for non-UK residents.