In the Chancellor’s Autumn statement last year, he announced that second homes purchased in the UK would be subject to an additional stamp duty of 3%. That will mean if you’re buying a second property for £500,000 for example, you will be paying an extra £15,000 on top of the £15,000 you would already be paying in stamp duty, making a total stamp duty charge of £30,000.
This new rule will be introduced from April 1st this year, so what should you do if you have been planning on buying somewhere to retreat to or an investment property to supplement your income after this date and can’t afford the extra tax you will be expected to pay?
The answer could be easier than you think.
Stamp duty tax will only apply if you’re buying your second home in the UK, so why not look abroad? Many countries around Europe and further afield can offer great opportunities, as well as the great weather and different pace of life that many look for in a holiday home.
Although there are other charges you may be subject to from the country where you purchase the property, it may work out cheaper than buyer a second home in the UK.
With this in mind, we’ve picked some great homes for sale that could make for the ideal getaway.
This former 18th century mill was once the weekend residence of the Duke and Duchess of Windsor, which they used to entertain stars such as Elizabeth Taylor, Richard Burton and Marlene Dietrich during the 1950s and 60s. There are number of buildings which can sleep 26 people combined as well as orangery that is great room for entertaining. It is surrounded by beautiful grounds and woodlands and has fantastic views the valley.
Panoramic views over a beautiful lake is what you’ll wake up to if you buy this large home in the exclusive Almenara Golf Course. With six bedrooms and the international school nearby, if you were considering a more permanent move the area has plenty for the whole family, or if you’re looking for a holiday getaway there’s 24-hour security in this gate development so you don’t need to worry when you’re back in the UK.
Nestled within 6.5 hectares of land is this beautiful, traditional four bedroom French property that dates back to 1764. It has a wealth of original features and a great farmhouse kitchen and orangery. Out of sight of the main house there’s a two bedroom guest house with its own kitchen and balconied terrace. Wandering around the grounds you’ll find a glade of Mediterranean oak and pine trees, olive groves, wild thyme and rosemary bushes, as well as a pool and pool house.
Located on the famous ‘Strada del Vino’, one of the most renowned wine-producing areas of Lucca, and found at the bottom of an olive tree lined drive, you’ll be hard pressed to find a more lovely Italian home. With its own olive grove, vineyards and herb garden, the 7 hectares of grounds are intoxicating and with lots of original details in the house such as the original olive press, the house itself is just as charming.
If sun, sea and sand is what you’re after, look no further than this great Portugese home that has uninterrupted views over the Atlantic Ocean. Built in the exclusive Reserva de Luz development, you can spend days here whiling away the time in your own pool or sunbathing on the terrace and the evenings enjoying the attractions of the town nearby.