Buying a new family home and renting out existing flat Scotland

amnblog

dimbo61 wrote: »

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If you sell your flat within 18 months of moving into the new home then you would get the 3% extra you will pay in stamp duty back !!

They settled this rule at 36 months.

dimbo61

Thanks amnblog for the information.

Dylan_Starsky

Does the 36 month rule apply in Scotland as well or does that just apply to rest of UK? Also can you still claim it back even if you rent it out prior to selling it?

Trying_to_be_good

SDLT doesn't apply to purchases in Scotland, there's a different tax. But the Scottish property does count as residential ownership (i.e. already owning one property) for a purchase in England/Wales/NI.

Here's the consultation (states 18 months): Govt Paper

And the outcome (extending to 36 months and a few other changes): Summary of Responses

Have a read and check with your own circumstances.

Dylan_Starsky

Has your Brother In Law got the same surname as you ?

No he and his wife to be have different surnames to my wife and I. Does this mean j could do a normal buy to let mortgage and rent it out to my future sister law?

jennifernil

The outcome states 36 months.

It also seems to indicate that you can reclaim as long as the property was previously your main residence.

The tax in Scotland is LBBT, Land and Buildings Transaction Tax. A higher rate is to be applied to second properties.

I would certainly expect it to be applied in the same way as the additional STLD in England.