Shocked at Stamp Duty

Newnoel

Just sell the Spanish property - problem solved.

I cant imagine much worse than spending a large part of the year surrounded by Brexit-supporting sunburnt retired black cab drivers, grumbling about foreigners back 'ome, and how the tea tastes 'orrible out 'ere.

googler

kdmd said:

i believe this should be looked into

Well, the only way to change it is via legislation, so I'm afraid you should be lobbying your MP rather than posting here ....

marlot

kdmd said:

Just found a house to buy after 6 months of searching in the midlands this will be lived in full time by my self and my wife
i'm shocked to find out that my stamp duty has jumped from £1500 to £7500 on a house costing £200k...

Are you selling a home in the UK (which could be regarded as your primary residence)?

canaldumidi

googler said:

kdmd said:

i believe this should be looked into

Well, the only way to change it is via legislation, so I'm afraid you should be lobbying your MP rather than posting here ....

or https://guide.change.org/create

https://petition.parliament.uk/

Caz3121

kdmd said:

i'm shocked to find out that my stamp duty has jumped from £1500 to £7500 on a house costing £200k

The additional stamp duty for having an additional property came into force in 2016 so it is not something that has changed recently.
You can avoid it by selling the Spanish property first and then you will be purchasing your only property so the £1,500 would then apply.

theartfullodger

You pay taxes if they are due on a transaction.  As far as I can tell you should be paying this tax.  End of.  

Being a citizen includes paying taxes due. 

Other countries are available.

george4064

Sell the holiday apartment in Spain, problem solved.

princeofpounds

I have some sympathy for you, if only because you can't use the other property as much as you like.

You still have time to sell the Spanish property and reclaim the extra stamp duty, if you wish to do so.

canaldumidi

princeofpounds said:

I have some sympathy for you, if only because you can't use the other property as much as you like.

You still have time to sell the Spanish property and reclaim the extra stamp duty, if you wish to do so.

SDLT can only be reclaimed if selling the main residence. My impression was that the Spanish property was not the OP's main residene, so it would have to be sold before buying in the UK in order for the OP to have only one property.

SDLT_Geek

canaldumidi said:

princeofpounds said:

I have some sympathy for you, if only because you can't use the other property as much as you like.

You still have time to sell the Spanish property and reclaim the extra stamp duty, if you wish to do so.

SDLT can only be reclaimed if selling the main residence. My impression was that the Spanish property was not the OP's main residene, so it would have to be sold before buying in the UK in order for the OP to have only one property.

Yes, the Spanish property would have to be sold first.