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stamp duty on (re)investment property?
jandrew
Posts: 14 Forumite
I inherited my parent's house last year and currently in the process of trying to sell it with the intention of re-investing the proceeds in a buy to let property. As I understand the gov't is charging an exorbitant additional 3% stamp duty on investment properties, but as this would be re-investment from a property sale would I be exempt? NB: I already own one existing B2L property. Many thanks in advance for any advice on this.
0
Comments
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of course you will.
The inherited property is irrelevant since its only purpose is as a source of funds you will use to buy an ADDITIONAL property
have you even tried to read the rules?
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm097300 -
I inherited my parent's house last year and currently in the process of trying to sell it with the intention of re-investing the proceeds in a buy to let property. As I understand the gov't is charging an exorbitant additional 3% stamp duty on investment properties, but as this would be re-investment from a property sale would I be exempt? NB: I already own one existing B2L property. Many thanks in advance for any advice on this.
Additional properties:, doesn't matter if you plan to let it out or use it as a residence for fluffy kittens and whether the money came from your parents house, hidden nazi gold or mother Theresa. .0
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