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Confused, second property, options??

MrRee_2 · 2018-03-24 21:37:51

Hi I have searched about and can't actually find an answer! A friend is 60 years old and is taking 25% tax free cash lump sum and a pension - but continuing working. They own their main home outright, worth about £450k and want to buy a second home at the seaside at a price of £450k. They are aware of the Stamp Duty hit…

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SDLT_Geek Posts: 2,886 Forumite

25 March 2018 at 9:38PM

MrRee wrote: »

An Estate Agent has told my friends that the rebate is only paid at the end of the tax year ..... ie. if the claim is made in mid April you have to wait until March the following year - !!! Can this be correct? It's shocking if so.

No, this is not true. HMRC aim to repay within 15 days of the form SDLT16 application going in, though often it takes longer than that.

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