Election promise effectively blames foreign buyers for inflating property prices
The Conservatives would force overseas homebuyers to pay extra stamp duty in an election pledge that effectively blames foreign purchasers for inflating property prices.
The party has unveiled plans for a 3% stamp duty surcharge for non-UK tax residents which would apply to companies as well as individuals – and also to expats wanting to move back home. It said as many as one in eight new London homes were bought by non-residents in 2014-16.
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