Chancellor Rishi Sunak announced a Stamp Duty Holiday for properties up to £500,000 fully exempt, this also applies to second homes.
The stamp duty holiday starts from 8 July 2020 to 31 March 2021.
For those buying a second home GLOBALLY or a buy-to-let property still have to pay an additional 3%, regardless of the stamp duty holiday.
The stamp duty payment is due within 14 days of completing the purchase.
From April 2021, all non-UK residents buying residential properties will have to pay 2% surcharge on top of any stamp duty already chargeable.
Your solicitors will calculate the stamp duty due.
Stamp duty is payable upon completion, not when contracts are exchanged.