Stamp duty rebate on second property (main residence)

ridpath

Hello,

I am planning on selling my main residence and moving into a rental property, buying a replacement residential property in the future (perhaps 6 to 12 months from now).

I also own another property, which I let out. Is there a finite period I am given relief from the additional SDLT for the second property as when I do buy, it will become my primary residence, and therefore be exempt from the higher rate?

Thank you.

amnblog

This is an interesting question.

Details of some scenarios are covered in the HMRC guidance, but I have yet to see one for a sale of main residence some months before new purchase.

The main rules say:

You won’t have to pay the higher rates if you sell your main home on the same day you buy your new home.


If you sell your main home after you purchase your new home you’ll need to pay the higher rate. You can claim a refund of the higher rates if your old home is sold within 3 years of buying your new home.


Which does not cover your position.


I would not be surprised if your solicitor is unsure. It would be their role to clarify this.

I would be interested to see an HMRC response on this one. I suspect it is an angle that was not considered initially (as I recall even the sale of home exception came in subsequent to the initial proposal)