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Do we incur additional SDLT if we remortgage?

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  • SDLT_Geek
    SDLT_Geek Posts: 2,890 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Yes, that guidance will help. The provisions themselves are a new paragraph 9A added into Finance Act 2003 / Schedule 4ZA.


    The addition is to be made permanently by the Finance Bill Schedule 11 / paragraph 4. It is presently in force by virtue of the Budget Resolutions passed just after the 22 November 2017 Budget.
  • makkan00
    makkan00 Posts: 22 Forumite
    SDLT_Geek wrote: »
    Yes, that guidance will help. The provisions themselves are a new paragraph 9A added into Finance Act 2003 / Schedule 4ZA.


    The addition is to be made permanently by the Finance Bill Schedule 11 / paragraph 4. It is presently in force by virtue of the Budget Resolutions passed just after the 22 November 2017 Budget.

    Many thanks mate. Time to read it thoroughly and pass this onto the solicitors. :beer:
  • SDLT_Geek
    SDLT_Geek Posts: 2,890 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    SDLT_Geek wrote: »
    Yes, that guidance will help. The provisions themselves are a new paragraph 9A added into Finance Act 2003 / Schedule 4ZA.


    The addition is to be made permanently by the Finance Bill Schedule 11 / paragraph 4. It is presently in force by virtue of the Budget Resolutions passed just after the 22 November 2017 Budget.
    I see that the Finance Act 2018 received Royal Assent on 15 March 2018 so now is in force in place of the Budget Resolutions. The provision you are interested in is at Schedule 11 / paragraph 4.
  • makkan00
    makkan00 Posts: 22 Forumite
    SDLT_Geek wrote: »
    I see that the Finance Act 2018 received Royal Assent on 15 March 2018 so now is in force in place of the Budget Resolutions. The provision you are interested in is at Schedule 11 / paragraph 4.

    Many thanks.

    One more question, do you know any rule which suggests that a person can get the refund on SDLT if that person had paid additional 3% on the property in the last 2 years.
    However, now the property is being made as a residential property?

    Thanks.
  • SDLT_Geek
    SDLT_Geek Posts: 2,890 Forumite
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    There are a number of situations where the 3% surcharge can be recovered including:

    (a) Where it was not due in the first place. For example someone buys a property to rent it out, but owned no other properties at the time.

    (b) Where the property was bought with the intention of living in it but a previous home is retained then sometimes the 3% surcharge is payable but is recoverable if the old home is sold within three years.
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