SDLT Surcharge Query

Speedbird676

I currently own one property. I used to live in that property until I moved abroad in 2012, after which it was rented out.

I returned to the UK in 2017, and have been renting a property to live in since then. Partly because I did not want to evict my tenant and the location of the property is not ideal for my work.

I'm now looking at buying a new property to live in and will be selling the original property. However, my tenant has a tenancy agreement until May 2020, so the likelihood is I will have purchased the new property before even being able to market the one I'm selling.

I know I'll be liable to the 3% surcharge on my purchase. The question being, would I be able to reclaim this on the sale of the first property?

Tom99

I don't think so since it's more than 3yrs since you lived in the property.

SDLT_Geek

Tom99 is right, you would not be able to recover the extra 3% on the sale of the first property.

Speedbird676

Thanks for confirmation of what I suspected.