Rachel Reeves: Stamp Duty Surcharge On Second Homes Increasing From 3% To 5%
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00:00In our manifesto, we committed to reforming stamp duty land tax to raise revenues while
00:05supporting those buying their first home. We are increasing the stamp duty land tax
00:10surcharge for second homes, known as the higher rate for additional dwellings, by 2 percentage
00:16points to 5%, which will come into effect from tomorrow. This will support over 130,000
00:26additional transactions from people buying their first home, or moving home, over the
00:31next five years.