The government have just published its consultation document on charging extra stamp duty on foreigners who buy UK property. The full SDLT non-UK resident surcharge consultation document is available to read here.

Some key headlines are:

– The purpose is to deter foreigners from driving up UK property prices

– Individuals with fewer than 183 days in the UK in the 12 months ending with date of purchase will be liable

– A refund claim available is if they then spend 183 days in the UK in the following 12 months

– Separate residence tests will be introduced for companies, trusts and other buyers

But in this new consultation, there is a major blind spot.

That being, where a non-UK resident off-plan buyer flips to a UK resident, no surcharge will be payable because the said flipper gets relief from SDLT. This is a major driver of price increases but is simply not addressed by those writing the condoc!

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