New stamp duty changes mean homeowners being overcharged thousands of pounds

A critic has said: 'The guidance came out incredibly late, and then they've fudged around with it since, which doesn't help'

The new three per cent surcharge applies to second properties (Getty)

Changes to stamp duty on second properties are causing people to be overcharged by up to thousands of pounds.

Second-home buyers and buy-to-let investors are being charged too much land tax - and even being wrongly advised by the Treasury - in bungled calculations sometimes costing thousands of pounds.

Experts and landlords have said the structure of the new tax is "just too complex".

But the Treasury has said the official guidance is clear and no such confusion should arise.

David Smith, policy director of the Residential Landlords' Association, said the difficulty lawyers were having in understanding the new law was a "serious concern."

"It hasn't been communicated well and the Treasury has made all these strange exemptions at the last minute," he told the Daily Telegraph.

"The structure is just too complex because they spent so long trying to close every loophole and now they're trying to re-open some of those loopholes.

"The guidance came out incredibly late, and then they've fudged around with it since, which doesn't help."

In one case, solicitors incorrectly told a buyer he was liable for an extra £13,000 stamp duty, in a mix-up which was backed by the Treasury when he turned to his MP on the matter.

The Treasury, however, has refuted the claim that their guidance is confusing or inaccurate.

"The vast majority of people seek advice from a solicitor or conveyancer when buying a home, and we are confident that the official guidance available on stamp duty provides buyers and their advisors with the information they need in easy to use and relatable scenarios," a government spokesperson told The Independent.

"As with all areas the government consults extensively and engages with stakeholders to get their feedback on how policies are working."

The higher rate of stamp duty came out in the Chancellor's Autumn Statement, where an extra three per cent surcharge added to the land tax on the property.

The new stamp duty applies to people who are either buying another house and have not yet sold their first property - although they can reclaim the charge if they sell within three years - or those who are simply buying a second property.

It counts as an extra three per cent on top of current stamp duty rates, which is a land tax levied on any property or land worth more than £125,000 or £150,000 respectively in England, Wales and Northern Ireland. The law does not apply in Scotland.