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Stamp duty question
hamiltonclose
Posts: 3 Newbie
My first property is a BTL.
I now want to buy a property to live in and obviously will be selling my BTL.
What would be my stamp duty in this case?
Thank you
I now want to buy a property to live in and obviously will be selling my BTL.
What would be my stamp duty in this case?
Thank you
0
Comments
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Is the property you are to buy in England, so we are dealing with stamp duty land tax?
If so, you will not qualify as a first time buyer for SDLT. The 3% surcharge for additional properties should not apply if you complete the sale of your BTL before you complete your purchase.
If you have been out of the UK for long periods before the completion of the purchase you should consider whether the 2% surcharge for non UK resident buyers applies.0 -
Yes, the BTL property and the property I a going to buy is in England and I live in England. I take it from your answer that I WILL be considered as a first time buyer if I managed to sell my BTL. I
f I did buy a property to live before I sell, I would then have to pay the surcharge, but can claim if I subsequently sell my BTL, is that correct? In essence do the same rules for residential property apply?
thank you0 -
I'm not sure where exactly you're taking that from, when SDLT_Geek clearly says:hamiltonclose said:I take it from your answer that I WILL be considered as a first time buyer if I managed to sell my BTL. ISDLT_Geek said:If so, you will not qualify as a first time buyer for SDLT.
2 -
If you still own the BTL on the day you buy your 2nd property, you will pay the additional 3% 2nd property SDLT.If you sell the BTL before buying the new property, you will not.In neither case will you be a FTB.1
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Thank you both0
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You are not a first time buyer for SDLT purposes.hamiltonclose said:Yes, the BTL property and the property I a going to buy is in England and I live in England. I take it from your answer that I WILL be considered as a first time buyer if I managed to sell my BTL. I
f I did buy a property to live before I sell, I would then have to pay the surcharge, but can claim if I subsequently sell my BTL, is that correct? In essence do the same rules for residential property apply?
thank you
If you sell your BTL after you buy your home, you will not be able to reclaim the extra 3% SDLT.2
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