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Renting out own house and buying another to live in -STAMP DUTY
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
I own my main house ( far too big for me - but I’m not selling under any circumstances )
I also have two other houses I rent out.
I also have two other houses I rent out.
If I replace my main residence by buying another small place to live in and rent my own house out - do I pay normal stamp duty or the extra 3% ?
Im a bit confused as Im switching my main residence ?
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Comments
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You're not "replacing your main residence" for the purposes of the SDLT concession unless you sell your current main residence and buy a new one. Otherwise it would be rather a wide open loophole, and you could just carry on expanding your property portfolio by constantly moving into your new property.7
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You're buying an additional property though, not selling. Normal stamp duty plus 3%.2024 wins: *must start comping again!*3
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Lol !! As you put it like that …. Damn !user1977 said:You're not "replacing your main residence" for the purposes of the SDLT concession unless you sell your current main residence and buy a new one. Otherwise it would be rather a wide open loophole, and you could just carry on expanding your property portfolio by constantly moving into your new property.
Last one I bought was in Rushi’s stamp duty holiday.I’ll maybe hope for that again
cheers 0 -
Sadly, 2nd home owners weren't subject to the holiday.Densol said:
Lol !! As you put it like that …. Damn !user1977 said:You're not "replacing your main residence" for the purposes of the SDLT concession unless you sell your current main residence and buy a new one. Otherwise it would be rather a wide open loophole, and you could just carry on expanding your property portfolio by constantly moving into your new property. Last one I bought was in Rushi’s stamp duty holiday.I’ll maybe hope for that again
cheers
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Oh yes they were: in England, though not in Wales.newsgroupmonkey_ said:
Sadly, 2nd home owners weren't subject to the holiday.Densol said:
Lol !! As you put it like that …. Damn !user1977 said:You're not "replacing your main residence" for the purposes of the SDLT concession unless you sell your current main residence and buy a new one. Otherwise it would be rather a wide open loophole, and you could just carry on expanding your property portfolio by constantly moving into your new property. Last one I bought was in Rushi’s stamp duty holiday.I’ll maybe hope for that again
cheers 2
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