Stamp duty if I buy a property abroad

kokolino23

Hello,
The information is confusing and I can provide a few other links.
https://www.natwest.com/mortgages/mortgage-guides/stamp-duty-on-second-homes.html#:~:text=It doesn't matter if,caravans, mobile homes or houseboats.
Do I need to pay any tax here in UK if/when I buy a property overseas? 
Thank you

SDLT_Geek

kokolino23 said:

Hello,
The information is confusing and I can provide a few other links.
https://www.natwest.com/mortgages/mortgage-guides/stamp-duty-on-second-homes.html#:~:text=It doesn't matter if,caravans, mobile homes or houseboats.
Do I need to pay any tax here in UK if/when I buy a property overseas? 
Thank you

The information you linked is worse than confusing, it is incorrect!

If you buy Property overseas would not have to pay any of the UK forms of stamp duty (stamp duty land tax in England and Northern Ireland, land transaction tax in Wales, land and buildings transaction tax in Scotland).

What the piece is probably trying to say is if you later buy a property in the UK, then the fact of owning a property overseas is likely to mean that you have to pay the higher rates of UK stamp duty on the purchase in the UK.

kokolino23

SDLT_Geek said:

kokolino23 said:

Hello,
The information is confusing and I can provide a few other links.
https://www.natwest.com/mortgages/mortgage-guides/stamp-duty-on-second-homes.html#:~:text=It doesn't matter if,caravans, mobile homes or houseboats.
Do I need to pay any tax here in UK if/when I buy a property overseas? 
Thank you

The information you linked is worse than confusing, it is incorrect!

If you buy Property overseas would not have to pay any of the UK forms of stamp duty (stamp duty land tax in England and Northern Ireland, land transaction tax in Wales, land and buildings transaction tax in Scotland).

What the piece is probably trying to say is if you later buy a property in the UK, then the fact of owning a property overseas is likely to mean that you have to pay the higher rates of UK stamp duty on the purchase in the UK.

Thanks, this is another link with incorrect information.
https://www.telegraph.co.uk/financial-services/currency-exchange/international-money-transfers/buying-property-abroad/
They clearly say

Do you pay Stamp Duty if you buy a property abroad?

You will have to pay extra Stamp Duty on all second homes, even if the property is abroad. 

If owning more than one property is temporary, you will still have to pay the extra rate. However, how much you pay depends on your current property's value, so again, it is worth doing your research. Remember that Stamp Duty will apply even if you own a share in a property. 

This is WRONG 

SDLT_Geek

kokolino23 said:

SDLT_Geek said:

kokolino23 said:

Hello,
The information is confusing and I can provide a few other links.
https://www.natwest.com/mortgages/mortgage-guides/stamp-duty-on-second-homes.html#:~:text=It doesn't matter if,caravans, mobile homes or houseboats.
Do I need to pay any tax here in UK if/when I buy a property overseas? 
Thank you

The information you linked is worse than confusing, it is incorrect!

If you buy Property overseas would not have to pay any of the UK forms of stamp duty (stamp duty land tax in England and Northern Ireland, land transaction tax in Wales, land and buildings transaction tax in Scotland).

What the piece is probably trying to say is if you later buy a property in the UK, then the fact of owning a property overseas is likely to mean that you have to pay the higher rates of UK stamp duty on the purchase in the UK.

Thanks, this is another link with incorrect information.
https://www.telegraph.co.uk/financial-services/currency-exchange/international-money-transfers/buying-property-abroad/
The clearly say

Do you pay Stamp Duty if you buy a property abroad?

You will have to pay extra Stamp Duty on all second homes, even if the property is abroad. 

If owning more than one property is temporary, you will still have to pay the extra rate. However, how much you pay depends on your current property's value, so again, it is worth doing your research. Remember that Stamp Duty will apply even if you own a share in a property. 

This is WRONG 

Ye, it is utterly wrong!