Stamp duty tax loophole could save buyers thousands

The Telegraph highlights a little-known tax loophole which could mean buy-to-let investors and buyers of second homes are exempt from the higher rates of stamp duty that come into force. For existing property owners to be exempt, they must be buying a main residence rather than a second home or investment property and have previously owned another main residence that they sold at any time before the announcement of the stamp duty surcharge on November 26 2015. Anyone who fits these criteria has until November 26 2018 – three years after the announcement in last year’s Autumn Statement – to buy an additional home without paying the extra stamp duty.