Stamp Duty

lukekelly19

I own a house with a mortgage, which I didn’t pay stamp duty on as was well under the threshold and my first. I am buying a flat for my mother, for which I will pay stamp duty as it’s a second home.

If, in the future, I were to move my main residence (i.e. sell my house and move buy somewhere else, while keeping the flat), what would be the stamp duty implications? (presuming the rules stay the same).

Would it be that I would just pay the stamp duty due on the cost of the new house (because I've already paid SD on the flat)? 

Or would it be the cost of the new house + the cost of the flat. 

Is there a simple calculator/calculation for this?

anniecave

You only pay stamp duty if applicable on purchase.  Not when you sell. 

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

SDLT_Geek

lukekelly19 said:

I own a house with a mortgage, which I didn’t pay stamp duty on as was well under the threshold and my first. I am buying a flat for my mother, for which I will pay stamp duty as it’s a second home.

If, in the future, I were to move my main residence (i.e. sell my house and move buy somewhere else, while keeping the flat), what would be the stamp duty implications? (presuming the rules stay the same).

Would it be that I would just pay the stamp duty due on the cost of the new house (because I've already paid SD on the flat)? 

Or would it be the cost of the new house + the cost of the flat. 

Is there a simple calculator/calculation for this?

Is the property you might buy when you move home in the future likely to be in England, so the relevant stamp duty is stamp duty land tax?

If so then when you come to sell your existing home and buy a new one, you can use the calculator here: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#!/intro  You would:

(a)  Enter as the price, the price of the property you will be buying at the time.
(b)  Say "yes" to additional properties, but also "yes" to replacing your main home (as you will be selling your existing home).

That will give you the SDLT at the standard rates (without the 3% surcharge) on the property you will then be buying.

lukekelly19

Thank you, that's very helpful!