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Reclaim stamp duty on second home
karenMR
Posts: 1 Newbie
Hi, I’m so confused; I hope one of you can put me straight.
My husband and I have just (after the Chancellor raised the zero rate, hooray!) purchased a very run down property for which we have planning consent to extend. While we are carrying out the building works we plan to live in our existing property. We have paid the additional 3% stamp duty for a second home but are aware that if we sell our existing home in a certain time frame we should be eligible for a refund of this additional 3%. At one time I thought the time we had to complete the sale of our existing home was 3 years, I then thought it had been reduced to 18 months which would be tight for us. I’ve looked on the government website and it still seems to indicate we have 3 years. Can anyone give me a definitive answer please?
Thank you.
Thank you.
0
Comments
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3 yearskarenMR said:Hi, I’m so confused; I hope one of you can put me straight.My husband and I have just (after the Chancellor raised the zero rate, hooray!) purchased a very run down property for which we have planning consent to extend. While we are carrying out the building works we plan to live in our existing property. We have paid the additional 3% stamp duty for a second home but are aware that if we sell our existing home in a certain time frame we should be eligible for a refund of this additional 3%. At one time I thought the time we had to complete the sale of our existing home was 3 years, I then thought it had been reduced to 18 months which would be tight for us. I’ve looked on the government website and it still seems to indicate we have 3 years. Can anyone give me a definitive answer please?
Thank you.
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09730
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I can't give you a definitive answer, but like you I think it's three years. I have a feeling it is different in England from Scotland, so perhaps you should mention where you are.
No reliance should be placed on the above! Absolutely none, do you hear?1 -
It is 3 years, with the potential to extend that further in individual cases:
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18 months in Scotland1
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