Buy to Let stamp duty (buying 2 at once)

fatbadger2

Hi experts/
I am trying to move house and buy a BtL flat at the same time (it's complicated why this is but trust me it has to be this way). I'll try and keep it simple :eek::
1 Keeping own house to let it out (Let to Buy as I don't want to be in a chain when I move house...)
2 Buying another house to live in myself to replace 1
3 Buying a flat as a BtL
4 Will sell 1 when I can over the next year or two

Does the order I buy 2 and 3 affect how much second home stamp duty I pay?
When I sell 1 can I claim back the second home stamp duty and which one will I get back: ie 2 or 3?

cheers! :beer:

brit1234

You pay 3% extra stamp duty on each additional property have. I believe you can claim back the extra stamp duty on your new home within a certain time if you sell your old one.

nubbins

No difference I think
3% extra for 2 on completion
3% extra for 3 on completion

You can claim back 2 once 1 is sold within 3 years

fatbadger2

That's excellent thanks.

Lloyd90

Just make sure you pay the 3% on the property that costs less, as if the prices are significantly different this could amount to few grand.

booksurr

Lloyd90 wrote: »

Just make sure you pay the 3% on the property that costs less, as if the prices are significantly different this could amount to few grand.

utter rubbish

the OP will, per his (current) plan and within the permitted 3 year window, replace his old main home with a new main home.

Therefore the last thing he should do is "choose" to pay the higher rate on the let property since he cannot reclaim that as he won't be selling it and it isn't his main home, so does not qualify for the refund.

Nubbins has correctly summarised the (true) position