The Stamp Duty premium on second properties will go ahead from April, as announced in the Budget today.

Plus supplementary documents confirmed that there will be no exemption from the 3% hike for landlords buying within a limited company structure, nor for larger landlords purchasing 15 or more properties, despite the Chancellor previously suggesting they might be able to escape the premium.

However, today’s policy statement said: “Companies purchasing residential property will be subject to the higher rates, including the first purchase of a residential property.”

It added: “Properties purchased for under £40,000, caravans, mobile homes and houseboats will be excluded from the higher rates. Furthermore, small shares in recently inherited properties will not be considered when determining if the higher rates apply.”

The tax surcharge affects anyone buying a residential property in England, Wales and Northern Ireland who, on completion, owns two or more properties and is not replacing a main residence.