Victory for granny annexe stamp duty campaign as Government changes law
At the RSN conference on rural policy today there was much talk about rural affordable housing and its impact on sustainable communities. Such communities need the full mix of people of ages and backgrounds to remain sustainable. With its skewed demography towards the elderly I think this story has some interesting ramifications for rural England…..
The controversial “granny annexe” tax is on course to be repealed by the Government after a Telegraph Money campaign.
A proposed amendment to the Finance Bill will remove the tax, which would leave anyone who buys a house with a self-contained annexe liable for a stamp duty surcharge that could increase the buyer’s tax bill by thousands of pounds.
The stamp duty surcharge means that anyone who buys an additional property has to pay an extra 3 percentage points on top of the standard tax rate – which, as Telegraph Money revealed in April, originally included properties with annexes.