Tax experts say that an attempt to levy higher purchase tax on holiday lets and second homes in one part of the UK could backfire and may not even work.
The Chartered Institute of Taxation is commenting on the Welsh Government’s proposal for its version of stamp duty – Land Transaction Tax – to be increased sharply in different localities as a disincentive to the purchase of second homes and short-term holiday lets. This would be in addition to the current extra council tax charge on such properties.
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