Property owner, but not main residence. 3% SDLT surcharge?

enashnash

Hi all,

My understanding is that the 3% SDLT surcharge applies if you are purchasing a second property when you already have a main residence. However I don't live in any of the properties I own, so none of them are my main residence (I actually live in a rental).

I'm looking for the actual official "wording" on where a 3% surcharge would apply in my case.

Can anyone help with that?

Thanks!

ACG

https://www.gov.uk/government/publications/sdlt-guide-for-completing-paper-sdlt1-return/guide-for-completing-paper-sdlt1-returns#about-the-transaction

Residential - additional properties Is where the purchase of a residential property results in you owning more than one residential property
If the new property is a replacement for your main residence which has not yet been sold, you must still use this code but you may be able to claim a refund when your main residence is sold.
This code must be used if you’re a company or non-individual purchasing any residential property, even if it is the only residential property owned
Residential property is defined as in the first box in this table

Im sure there is a much more thorough explenation somewhere but you are liable for it.

unforeseen

You will be liable. See flow chart at https://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties

amnblog

enashnash wrote: »

properties I own

Key phrase.

It has nothing to do with mortgages.

You will be liable for the Higher SDLT.