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Surely not another 2nd home stamp duty thread?!?
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ForumUser
Posts: 26 Forumite
Main and only residence abroad. Sale completion will be on 1st July 2017.
Completing on new UK residence on 30th June 2017.
We will own 2 properties for approx 18 hours
I assume we won't get out of paying the 2nd home stamp duty. Does anyone have experience of how long the refund really takes, or if there is indeed any chance to avoid the whole headache (legally)
Cheers
ForumUser
Completing on new UK residence on 30th June 2017.
We will own 2 properties for approx 18 hours
I assume we won't get out of paying the 2nd home stamp duty. Does anyone have experience of how long the refund really takes, or if there is indeed any chance to avoid the whole headache (legally)
Cheers
ForumUser
0
Comments
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Since it's unlikely the SDLT return will be completed before the sale completes, I'd have no qualms about saying that it was my only property.0
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Not legally, but in practice they just want the money you're due to pay them, and they're not going to bother pursuing you for tax which, by the time they catch up with you, you won't actually owe them.0
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it wont be a problem, if it is then you can claim it back i believe. Its not like youre renting one out for 6 months before selling it.0
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I agree with the above, but can you not postpone Completion on your purchase by 24 hours.....?0
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Unfortunately can't delay the UK completion since the 30th June is a Friday and there is a chain completing on that day.
Similarly, can't move the foreign transaction forward since we need to complete on or after 1st July for tax purposes (real estate profit tax is set based on number of years of ownership)0 -
So you CAN move it forwards, but it'd cost you a little more.0
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Yes, would cost more. And the extra foreign tax can't be reclaimed unlike the 2nd home stamp duty. So I'm not doing it.
I'm happy to pay the 2nd home stamp duty and then reclaim after 18 hours. My question is only whether it is really necessary.0 -
Unfortunately can't delay the UK completion since the 30th June is a Friday and there is a chain completing on that day.
Similarly, can't move the foreign transaction forward since we need to complete on or after 1st July for tax purposes (real estate profit tax is set based on number of years of ownership)
Out of interest, in which jurisdiction can you complete sales on a Saturday?0
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