Prime Minister unveils enhanced stamp duty levy on foreign buyers - property reacts

By Richard Hook2018-10-01T11:42:00

Source: REX/Shutterstock/James Gourley

Prime Minister Theresa May has made the first of several expected housing announcements from the Conservative Party Conference in Birmingham, unveiling an enhanced stamp duty tax on foreign buyers of new homes.

The government will levy a new stamp duty of 1-3% on individuals and companies not paying tax in this country. May told the BBC’s Andrew Marr Show that it “cannot be right that those who don’t live in the UK can buy properties as easily as British residents”.

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