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Stamp Duty on second home that isn’t a second home!
I'm currently in the process of buying a property to live in, but have a slightly complicated Stamp Duty question I was hoping you might be able to answer.
I currently own half of a buy-to-let property with an ex-partner that, in due course, I will be selling my share in - either with the whole house sold or my share sold to her. I have never lived in the property and it was a cash purchase so there is no mortgage on it.
This sale will not be done by the time I hope to complete on the house purchase, and I'm just wondering whether I'll have to pay the large stamp duty charge on the purchase price of £525,000.
The rate listed is £29,500 at the high rate or £13,750 at the lower rate.
Any guidance would be greatly appreciated!
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