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Stamp duty deterrent for investors?
Comments
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I am amazed it has taken you so long to get there as your specific circumstances are clearly set out in the guide published in march 2016 by HMRC. A guide which is on their website and has not been written by a journalist or shortened by their editor !
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/509184/GuidanceNote_Final.pdf
3.24 Renting a new main residence in the time between disposal and purchase will not prevent the purchase from being a replacement of a main residence unless the period of the tenancy agreed is more than seven years.
3.20 The rules require the dwelling disposed of to be the purchaser’s only or main residence at some time during the period of three years before the purchase.
(my underlining) patently property A was your main residence up until 2014 even if you spent most of your time with the boyfriend at his place (there is a whole section which explores the concept of main residence and is based on years of case law arising from capital gain tax questions around "main" residence)
so you have 3 years from the date you moved into rental to sell property A. "2014" + 3 = 2017
3.42 Where a transaction is entered into by joint purchasers the higher rates will apply if the transaction would be a higher rate transaction for any of the purchasers considered individually. So if there are two individual purchasers and Conditions A to D are all met for one of them only, the transaction will be charged at the higher rates
3.44 Where an individual with a spouse or civil partner purchases an interest in a dwelling and their spouse or civil partner is not a joint purchaser, the spouse or civil partner will be treated as a joint purchaser in respect of the transaction
you already own a place so you are liable for the higher rate because, despite him not owning an existing property, being married you are therefore one "unit" owning 2 properties0 -
I guess I'm easily confused and easily worried about these tax matters!! A saving grace perhaps is my solicitor seemed equally as confused too! At least I got there in the end
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