Wales Land Transaction Tax (LTT) Second home becoming Main Residence

No1jack8

Hi Guys
I own a house that I purchased before I met my wife. We have decided to buy another property and sell this premises.
However, we would like and are in a fortunate position to buy the new property first and then sell our current premises afterwards, in order to avoid a chain situation and undertake some upgrades in the new premises that we will move into.
We are based in Wales and this falls under the Land Transaction Tax as opposed to SDLT.
I can see for people based in England that if you purchase a new main residence you initially pay the higher rate of SDLT and then provided you sell your current main residence within three years you are eligible for the difference as a tax refund.
For wales however, the welsh government website is not as clear, and does not mention that specific example that can be found on gov.uk.
Therefore I was wondering if anyone else in Wales has done this and claimed a refund for the additional LTT. I am worried that I will be out of pocket by about £8k in Wales if I undertake the purchases in this order as opposed to waiting in a chain system.

Thanks for your help and comments in advance, it is greatly appreciated.

davidmcn

No1jack8 wrote: »

For wales however, the welsh government website is not as clear, and does not mention that specific example that can be found on gov.uk.

It's mentioned here:
https://gov.wales/higher-rates-purchases-residential-property-technical-guidance
if you go to "LTTA/8090 Replacement of main residence" - seems to operate the same way as in England.

No1jack8

Thank you, cant believe I missed that when trying to filter through their website and links that are often broken.