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Holiday let that's not a second home?
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ambercat19
Posts: 1 Newbie
Hello all, I have a half share with a friend in that was once my main home which we are now selling.
For the last few years I have lived in my partners home with our young child but do not own any share in the property ie my name is not on the deeds and we are not married.
Once I sell my half share in what was once my home I am considering buying a holiday let outright for just under £125k. My question is: as I will no longer own a house will I be liable for the 3% stamp duty levy on the purchase of a holiday let?
For the last few years I have lived in my partners home with our young child but do not own any share in the property ie my name is not on the deeds and we are not married.
Once I sell my half share in what was once my home I am considering buying a holiday let outright for just under £125k. My question is: as I will no longer own a house will I be liable for the 3% stamp duty levy on the purchase of a holiday let?
0
Comments
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No.
Don't forget to budget for any CGT you may have to pay on the sale.0 -
ambercat19 wrote: »Hello all, I have a half share with a friend in that was once my main home which we are now selling.
For the last few years I have lived in my partners home with our young child but do not own any share in the property ie my name is not on the deeds and we are not married.
Once I sell my half share in what was once my home I am considering buying a holiday let outright for just under £125k. My question is: as I will no longer own a house will I be liable for the 3% stamp duty levy on the purchase of a holiday let?
The higher rate of SDLT is for the purchase of additional residential properties. You are not purchasing an additional residential property therefore the higher rate of SDLT will not apply regardless of what you intend to do with the new property.0
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