Budget Resolution No. 35: Stamp duty land tax (additional dwellings: purchases before 1 April 2025)

Parliament voted on 6 November 2024 to approve Budget Resolution No. 35, which raised the stamp duty land tax surcharge applied to purchases of additional residential properties, such as buy-to-let investments and second homes, for transactions completed before 1 April 2025. The resolution passed by 378 votes to 116, with government support driving a comfortable majority.

The measure increased the surcharge payable on top of standard stamp duty rates when buyers acquire a property they do not intend to use as their primary residence. In practical terms, this makes purchasing a second home or a buy-to-let property more expensive, with the government's stated aim of reducing speculative demand in the housing market and freeing up more homes for owner-occupiers, particularly first-time buyers. The change affects landlords, investors and second home purchasers across England and Northern Ireland, where stamp duty land tax applies.

The vote divided largely along party lines. Labour and Labour and Co-operative MPs voted unanimously in favour, joined by the Liberal Democrats who voted aye, the Greens, and a small number of independents. The Conservatives voted against in their entirety, as did Reform UK, the Democratic Unionist Party, and several independent members. There were no notable cross-party rebellions. The measure sits within the broader context of the October 2024 Budget, with the government also pursuing related housing and rental reforms through legislation such as the Renters' Rights Bill, which faced its own contested votes in early 2025.