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Second Home (sort of) stamp duty question
katyb1982
Posts: 5 Forumite
Anyone out there who can help me see clearly on this one. Brought my first flat when I was young free and single and then mt now husband Mr B. We tried to sell and buy a family home together when we got married but failed to sell the flat (bad timing-was the middle of the big crash!) So brought our current home in his name as he was a first time buyer and so offers etc applied. We rent out my old flat which has been rented the whole time so has been a good investment. This house has been our main home since then but 8 years down the line we need to upsize due to our kids. I think that as we are selling and disposing of our main family residence that we don't need to pay the extra 3% stamp duty but haven't been able to get this set in stone..anyone have any idea?
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Comments
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You are correct, as long as you sell at the sand find as you purchase you won’t need to pay any extra.0
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Anyone out there who can help me see clearly on this one. Brought my first flat when I was young free and single and then mt now husband Mr B. We tried to sell and buy a family home together when we got married but failed to sell the flat (bad timing-was the middle of the big crash!) So brought our current home in his name as he was a first time buyer and so offers etc applied. We rent out my old flat which has been rented the whole time so has been a good investment. This house has been our main home since then but 8 years down the line we need to upsize due to our kids. I think that as we are selling and disposing of our main family residence that we don't need to pay the extra 3% stamp duty but haven't been able to get this set in stone..anyone have any idea?
So will you buying the new home in joint names or just in Mr B's name? Also will you be selling the flat now or keeping it?0 -
simple - no higher rateanyone have any idea?
you are a categoric fit for example 1
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09810
does not matter if buying in joint names (or, if you really want to labour the point, even if buying in just his name) given the place being sold is his and you are married and have both lived there0
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