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Stamp duty
Comments
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There is no retrospective SDLT. You're either buying it to live in or you're not. If your true aim is to buy it to let out and you are just paying lip service to it being your main residence for a short length of time, then I think you are walking a thin line of potentially acting fraudulently.slightlychilled wrote: »Primarily as per my OP, how long would I be expected to live in the property as my main residence to prevent retrospective collection of SDLT.0 -
If my understanding is correct then as long as the OP purchase before November 2018 then they won't have to pay the additional duty...
The quotes are from the full guidance notes - https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/570876/SDLT_Higher_rates_for_additional_properties.pdf
Wonderful, thank you for that link - it states clearly at 3.19A that the sale of the main residence could have been at "any time" before Nov 2018....
That's exactly what I've been looking for.
All that remains is my original OP.0 -
There is no retrospective SDLT. You're either buying it to live in or you're not. If your true aim is to buy it to let out and you are just paying lip service to it being your main residence for a short length of time, then I think you are walking a thin line of potentially acting fraudulently.
As per my OP I have every intention of living in it and indeed will definitely do so. My concerns are purely in knowing what course of action to take should the need arise.0 -
Then buy in it and live in it. There is no such thing as retrospective stamp duty. The next time you will required to pay any stamp duty will be the next time you buy a property.slightlychilled wrote: »As per my OP I have every intention of living in it and indeed will definitely do so. My concerns are purely in knowing what course of action to take should the need arise.0 -
I could explain the rules on inherited properties, but it's freely available online and OP's attitude stinks."Real knowledge is to know the extent of one's ignorance" - Confucius0
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