Owners of flats that cannot be sold due to cladding issues should not be required to pay the 3% Surcharge on a second home upfront when buying another home. The Government should defer payment of this surcharge until 3 years after rectification work has been completed and the property can be sold.
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Around 274,000 flats are estimated to have dangerous cladding – this may affect over 650,000 people who are prevented from moving to more suitable accommodation, thus blighting their lives as well as their properties. Those affected have to pay a 3% surcharge on top of normal Stamp Duty Land Tax if they are in a position to buy an alternative residence. The Government should recognise this and act to provide relief so payment of this surcharge can be deferred until former properties can be sold.