Stamp Duty / second house refund etc

Flugelhorn

Having inherited some money and got *2 pension lump sums we are in position to buy our next home before we sell our current house.

Aware that in doing so we will pay extra stamp duty on the new house which will be refunded when we sell our current house.

However there is possibility that we will also be buying small house for relative, before we sell current residence and again would pay excess stamp duty.

When we sell the current residence, would we get excess stamp duty back on one, both or neither? (small house would be in Scotland, others in England)

G_M

You'd get the refund on the property that became your new main home, based on the assumption that you sell your current main home within 3 years.

anselld

Nice try, but you only get it back on one; the one which is your main residence.

Flugelhorn

G_M wrote: »

You'd get the refund on the property that became your new main home, based on the assumption that you sell your current main home within 3 years.

Thanks G_M
I have just been googling what the definition of main residence is and it is now all becoming a bit clearer.

Flugelhorn

anselld wrote: »

Nice try, but you only get it back on one; the one which is your main residence.

LOL yes - actually just happy that I will get it back on the one we will retire to as likely to be rather more costly than the small one. Was worried that I wouldn't get it back on either..