_Knight Frank launches non-UK resident Stamp Duty calculator for overseas buyers

Knight Frank has launched an non-UK resident/overseas buyer calculator which will help buyers from abroad calculate how much UK Stamp Duty they will need to pay from 1st April 2021 when a new surcharge is introduced.

November 09, 2020

From 1st April 2021, there will be a 2% Stamp Duty surcharge introduced for overseas buyers on the purchase of residential property in England and Northern Ireland.

The surcharge is expected to apply to non-resident buyers regardless of the type of buyer (e.g. company or individual) subject to very few exceptions for specific collective investment vehicles such as REITs.

The surcharge will be in addition to the existing 3% Stamp Duty surcharge on purchases of “additional” dwellings such as buy-to-lets and second homes, the flat 15% Stamp Duty rate on purchases of dwellings worth more than £500,000 by companies acting as “envelopes” and the existing stamp duty rates for UK home buyers.

If you are a non-UK resident and need to calculate the surcharge you will need to pay when buying property in the UK after 1st April 2021 use our overseas buyer Stamp Duty calculator.

If you would like to find out more or to search for property for sale in the UK through Knight Frank contact your local office or begin your property search.