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if we sell, then rent, will we pay stamp duty on next purchase

ktuludays
ktuludays Posts: 368 Forumite
in House buying, renting & selling
We are currently selling our house (140k) and looking to buy around the 170k mark.

if we sold our current property and rented for a few months would we have to pay stamp duty on the new purchase?

is it frowned/fraudulent to do this to avoid stamp duty charges?

cheers

rob
You got to get through what you've got to go through to get what you want but you got to know what you want to get through what you got to go through.
«13

Comments

  • scottishblondie
    scottishblondie Posts: 2,495 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Yes you will have to pay stamp duty. You'll never be a first time buyer again, regardless of how long you wait to buy your next property.
  • mynameisdave
    mynameisdave Posts: 1,284 Forumite
    Frowned or Fraudulent? Well its evading tax, so yeah - not really worth considering going to prison for £1,700
  • theartfullodger
    theartfullodger Posts: 15,792 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ktuludays wrote: »
    is it frowned/fraudulent to do this to avoid stamp duty charges?

    cheers

    rob


    'strange, I thought the British way Rob was to pay all those taxes due promptly and with good humour..


    Cheers!

    Lodger
  • ILW
    ILW Posts: 18,333 Forumite
    ktuludays wrote: »
    We are currently selling our house (140k) and looking to buy around the 170k mark.

    if we sold our current property and rented for a few months would we have to pay stamp duty on the new purchase?

    is it frowned/fraudulent to do this to avoid stamp duty charges?

    cheers

    rob

    Why would you not pay stamp duty, Am I missing something?
  • BaconandEggs
    BaconandEggs Posts: 578 Forumite
    Yes - you will have to pay.
  • MPH80
    MPH80 Posts: 973 Forumite
    Part of the Furniture Combo Breaker
    ILW wrote: »
    Why would you not pay stamp duty, Am I missing something?

    Because, if they could be considered FTBs again, then they would get the stamp duty exemption ...

    But as has been highlighted the rules say that if you have ever owned a property, you can't get the exemption.
  • ILW
    ILW Posts: 18,333 Forumite
    MPH80 wrote: »
    Because, if they could be considered FTBs again, then they would get the stamp duty exemption ...

    But as has been highlighted the rules say that if you have ever owned a property, you can't get the exemption.

    Why would anybody who used to own and is now renting think they were first time buyers? Am I being really thick here?
  • timmyt
    timmyt Posts: 1,628 Forumite
    OP, why do you think you would avoid it by doing that?
    My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:

    My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o
  • Loopgames
    Loopgames Posts: 805 Forumite
    I didn't know FTBs had stamp duty exemption...*goes and google's*
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    ILW wrote: »
    Why would anybody who used to own and is now renting think they were first time buyers? Am I being really thick here?


    maybe because some mortgage lenders will offer FTB status if you don't own a home now even if you once owned one.
This discussion has been closed.
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