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Stamp duty when replacing main residence
belgianbun13
Posts: 3 Newbie
Hi!
I was hoping for some advice...
We finally exchanged on our sale and purchase yesterday - hoorah! it's been a long and stressful journey to say the least.
We've now received our solicitor's cash statements for the completion but it doesn't include stamp duty on our purchase. I queried this with the solicitor and she advised this is because we are replacing our main residence so no stamp duty applies.
Now don't get me wrong, I'd be overjoyed to save some money but it just doesn't seem right? I was under the impression the main residence rule only applied when you're buying a second property.
Help please!?
I was hoping for some advice...
We finally exchanged on our sale and purchase yesterday - hoorah! it's been a long and stressful journey to say the least.
We've now received our solicitor's cash statements for the completion but it doesn't include stamp duty on our purchase. I queried this with the solicitor and she advised this is because we are replacing our main residence so no stamp duty applies.
Now don't get me wrong, I'd be overjoyed to save some money but it just doesn't seem right? I was under the impression the main residence rule only applied when you're buying a second property.
Help please!?
0
Comments
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Ps. I should clarify we are in Wales and the purchase price is £177k.0
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It is zero but she's justifying it using the wrong rule - it's nil for anything under £180k (if the additional property surcharge doesn't apply).
Check on the calculator yourself:
https://lttcalculator.wra.gov.wales/0 -
That is wonderful news! I can spend the £1k saved without anxiety or guilt now!0
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