Navigating Stamp Duty: Your Essential Guide

Following the spring budget announcement on the 6th March 2024, the chancellor announced that from 1st June 2024, Multiple Dwellings Relief will be abolished, unless you exchanged on or before the 6th March 2024 in which case you can still claim the relief.

What is Multiple Dwelling Relief:

Multiple Dwellings Relief is currently available where the main subject matter of a transaction contains at least two dwellings. These can be purchased in linked transactions or in one transaction. Linked transactions are currently defined by HMRC as;

• If there's more than one transaction
• If the transactions are between the same buyer and seller or between people connected with either of them. Connected persons – If the buyer or seller is a business, a connected person would be a business partner and their relatives. It also includes companies and groups of companies who are connected to the business.