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Scottish 3% tax on second homes
DSW25
Posts: 12 Forumite
Hello,
I currently live in my own bought house. I also own a flat elsewhere which is rented out. In April 2016 in Scotland, there will be a 3% charge on second homes purchased.
My question is, if one day I wanted to move house, will I get charged this 3% as I have my flat rented out?
I currently live in my own bought house. I also own a flat elsewhere which is rented out. In April 2016 in Scotland, there will be a 3% charge on second homes purchased.
My question is, if one day I wanted to move house, will I get charged this 3% as I have my flat rented out?
0
Comments
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Probably. But (as with the equivalent changes down south) the details haven't yet been brought to Parliament so nobody can be sure of the details yet.0
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It seems likely that a replacement of your main residence will not attract the 3% premium, so as long as you sell your current home before buying another you should be ok. However, as davidmcn said, nothing has been set in stone yet.0
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If it mirrors what is going on in England, then yes, you (probobly) would be charged.
In Eng, the additional SDLT is on a 2nd residential property, not a main residence.
However as everyone has said, the fine details are still to be published.0 -
The latest information is on the Revenue Scotland website (sorry can't post links yet).
The consultation has just finished.0 -
MidLifeMayhem wrote: »The latest information is on the Revenue Scotland website (sorry can't post links yet).
The consultation has just finished.
https://www.revenue.scot/news/news/lbtt-supplement-draft-legislation-published
http://www.scottish.parliament.uk/parliamentarybusiness/Bills/96000.aspx0 -
Hello,
I currently live in my own bought house. I also own a flat elsewhere which is rented out. In April 2016 in Scotland, there will be a 3% charge on second homes purchased.
My question is, if one day I wanted to move house, will I get charged this 3% as I have my flat rented out?
As the proposals stand at present, if you were selling your current main residence and buying a new main residence, you would not pay the additional 3% charge.0
This discussion has been closed.
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