We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Stamp duty question

Sim_2
Sim_2 Posts: 94 Forumite
Part of the Furniture 10 Posts Combo Breaker
in House buying, renting & selling


Any SDLT experts out there able to help me?

We have owned a flat in a town we intend downsizing to for 18 months. We use the flat when visiting our extended family and have never let it out. As a 2nd property we paid the higher rate of stamp duty

Our plan is to sell our main residence of 30 years chain free and move into the flat for 6 months while we find our new main residence as cash buyers, then rent out the flat at the end of the process.

Will we be liable for higher SDLT on the new home? It would be £6000 extra. If so, would not living in our flat in between make any difference? Six months rent would be nowhere near £6000?

It’s all so confusing.


Comments

  • K_S
    K_S Posts: 6,901 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 25 June 2022 at 3:08PM
    @Sim_2 Not an SDLT expert :) but going by the below example on the SDLT examples webpage, you should be able to use the replacement of main residence exemption even if you temporarily move into another property owned by you. 
    https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09810

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.2K Banking & Borrowing
  • 254K Reduce Debt & Boost Income
  • 454.9K Spending & Discounts
  • 246.3K Work, Benefits & Business
  • 602.5K Mortgages, Homes & Bills
  • 177.9K Life & Family
  • 260.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture