From April 2016 any such properties will face an additional 3% charge, on top of the existing levy.
This means the new stamp duty structure in England and Wales will look like this:
|Property Value||Standard Rate||Additional Properties|
Stamp duty is applied only to the portion of the property value falling in that band, similar to income tax.
So while a sole home valued at £300,000 would incur £5,000 stamp duty, if that same £300,000 were an additional Buy to Let property for example, the stamp duty charge would increase to £14,000.