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SDLT - Would this be classed as a second property?
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MoneyInTheBank
Posts: 17 Forumite
My husband and I live in a mortgage free house which is solely in my name. If we were to buy another property with the intention of renting this out, and have it solely in his name, would this avoid paying the additional percentage towards SDLT since the new law came in? Or would it somehow be classed as a second property for him and he'd have to pay the increase?
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A married couple can only have one main residence for the purposes of SDLT. Your main home is the one you live in now so if he buys another property it will be subject to the additional 3% SDTL.
HMRC wrote a comprehensive guidance note about the additional SDLT which has been referenced many times on the forum already in the many, many other threads about the additional SDLT.0 -
MoneyInTheBank wrote: »...If we were to buy another property with the intention of renting this out...
...would it somehow be classed as a second property...
https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-propertyIf you’re married ..., buying a property and your spouse ... already owns a property you may still be liable to the higher rates.0 -
Pay the extra SDLT if you're so eager to people-farm other people's incomes. Many of who are only priced out because of the BTL bubble boom.0
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Pay it like everyone else, your not special"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
If you weren't married then your husband could technically have a property in his name but as soon as you got legally wed that right disappeared... You could always divorce if you want to avoid the SDLT!0
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If you weren't married then your husband could technically have a property in his name but as soon as you got legally wed that right disappeared... You could always divorce if you want to avoid the SDLT!0
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If you weren't married then your husband could technically have a property in his name but as soon as you got legally wed that right disappeared... You could always divorce if you want to avoid the SDLT!
The extent some people would go to avoid paying tax on second property!!!! Maybe the hubby would consider it but for other reasons :rotfl:EU expat working in London0 -
always_sunny wrote: »The extent some people would go to avoid paying tax on second property!0
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