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SDLT - do I pay the additional 3%?
poshpalace
Posts: 4 Newbie
I am planning to complete on the sale of my main residence before completing the purchase of its replacement a month or two later.
I also have a house that is let and that I am keeping.
As I am not buying my new main residence at the same time as selling the old one am I liable for the additional 3% SDLT?
0
Comments
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No.
You own A (your home) and B (not your home)
You are buying C (your home)
You sell A within 3yrs either way of the purchase of C, no +3%3 -
how can you not understand the rules, they are very simple.in your scenario
you are replacing your main residence (A) with a new main residence (B).
The BTL is irrelevant, as the test is will your replacement transaction complete the sale of A) ON or BEFORE the day you complete the purchase of B.: Yes or No?
Yes = no higher rate
No = higher rate payable, but you can get it refunded if A then sells within 3 years of buying B
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09800
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