The UK government has refunded £127m ($165m) in stamp duty tax to 10,700 homeowners, who paid too much after the introduction of the 3% "second property surcharge" in April of last year. The measure was implemented to slow the buy-to-let boom, but critics said that it hampered homeowners who bought a second property before selling their first. Saffery Champness has been obligated to repay transactions at an average cost of £11,869 each.
The UK government has refunded £127m ($165m) in stamp duty tax to 10,700 homeowners, who paid too much after the introduction of the 3% "second property surcharge" in April of last year. The measure was implemented to slow the buy-to-let boom, but critics said that it hampered homeowners who bought a second property before selling their first. HMRC has been obligated to repay transactions at an average cost of £11,869 each.