Stamp duty on second home

jfmcparland

Hi All. Wondering can any conveyancing experts clear something up for me? 
My wife and I each had our own houses before we met. I moved into hers and changed mine to a buy to let. I changed her house to my main residence (bank statements, etc) and I have been living there for 4 years. We are looking to move houses now. If we sell her house, our main residence, are we still liable to pay the stamp duty for a second home? Our financial advisor says because we are selling our "main residence" that we don't have to pay the second home stamp duty (even though I own a buy to let). Can someone clear this up? Help much appreciated.

RAS

If you are replacing your primary residence, the additional SDLT charge does not apply.

You will have to pay CGT when you sell the BTL, with a discount for the period you lived there.

Bookworm105

as above the fact a BTL is still owned is ignored 
The key aspects being:
a) being married means you are treated as one "unit" in terms of what you own (no his and hers). As a couple both own a home and a BTL
b) but, the new purchase is the new home and thus is a replacement of the old main home as it is the old home which has been sold
c) the higher rate would only apply if the sale of the "old" main home completes after the purchase of the new one. In that case you would then reclaim the higher rate paid if that sale completes within 3 years of the purchase of the new home. Complete sale on or before completing the replacement purchase = standard rate 

so the unit continues as owners of a home and a BTL. They have not increased the absolute number of properties they own, they have merely replaced the main home. (it is one of the few advantages of being legally married)

jfmcparland

Thanks both for taking the time to reply and for the helpful advice. Have a great day.