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3% SDLT surcharge - have I understood it correctly?
dynamodollishill
Posts: 6 Forumite
Hello all, and help most appreciated. What a needlessly complicated set of rules these are!
Myself and wife have lived in our current property for about twenty years.
I have a property that I lived in about 30 years ago and is currently let out.
At the moment the current property is in wife's name but we are thinking of putting it into joint names (no mortgage so don't think there's a SDLT here).
We are looking to sell where we live and buy and live in a new house in joint names as our replacement main residence.
Does that sound like it would qualify for the main residence relief? I think the adding of myself to main residence title is needed - but I'm not sure.
Many thanks.
Many thanks.
0
Comments
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The extra 3% should not apply to your purchase if the present home is sold when the new one is bought. As you say, that is because the "replacement" rules should apply.dynamodollishill said:Hello all, and help most appreciated. What a needlessly complicated set of rules these are!Myself and wife have lived in our current property for about twenty years.I have a property that I lived in about 30 years ago and is currently let out.At the moment the current property is in wife's name but we are thinking of putting it into joint names (no mortgage so don't think there's a SDLT here).We are looking to sell where we live and buy and live in a new house in joint names as our replacement main residence.Does that sound like it would qualify for the main residence relief? I think the adding of myself to main residence title is needed - but I'm not sure.
Many thanks.
There is no need, for this purpose, for the existing home to be put into joint ownership first. That is because you are married, so you can rely on the sale by your spouse of a property you have been living in as your residence for many years.2
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