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Help! Stamp duty 2nd home surcharge
Comments
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I was caught by this law because my children live with my ex-wife who cannot afford a mortgage. So I am still on the deeds and the mortgage of that property in order for her and them to continue to live in it. Even though I do not live there, it is my main residence because I have no other. I rent myself.
When I did buy a house I had to pay the higher rate tax. I have since worked with the lender and they have allowed me to remain on the mortgage yet be removed from the deeds. A dodgy place to be, but I have had an amicable divorce.
So I have now applied for the refund of duty.
But I can see where being a responsible parent in a divorce (not of my asking) can leave you open to quite a large payment of extra tax...
I was able to fix my situation, but it took eight months of work.
I am awaiting the refund now.0 -
Your main residence is simply where you live. Plenty of people rent their main residence.I was caught by this law because my children live with my ex-wife who cannot afford a mortgage. So I am still on the deeds and the mortgage of that property in order for her and them to continue to live in it. Even though I do not live there, it is my main residence because I have no other. I rent myself.
When I did buy a house I had to pay the higher rate tax. I have since worked with the lender and they have allowed me to remain on the mortgage yet be removed from the deeds. A dodgy place to be, but I have had an amicable divorce.
So I have now applied for the refund of duty.
But I can see where being a responsible parent in a divorce (not of my asking) can leave you open to quite a large payment of extra tax...
I was able to fix my situation, but it took eight months of work.
I am awaiting the refund now.0
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