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Stamp duty
mizzbonita
Posts: 93 Forumite
I asked a question about this before but now I’m a little confused and just need some clarification.
I owned a flat which I sold in October. It used to be my main residence for 11 years and then I rented it for a little over 3 years and sold it. I own no other property now and have been living at my Mum’s.
Do I pay the standard SDLT rate on the new property? Sorry if it’s a silly question but I got confused with something I saw online.
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Yes, if you only own one property you only pay the standard rate of SDLT.mizzbonita said:I asked a question about this before but now I’m a little confused and just need some clarification.I owned a flat which I sold in October. It used to be my main residence for 11 years and then I rented it for a little over 3 years and sold it. I own no other property now and have been living at my Mum’s.Do I pay the standard SDLT rate on the new property? Sorry if it’s a silly question but I got confused with something I saw online.
On a side note, did you pay proportional CGT on the previous property?1 -
Yep I paid proportional CGT as well as did self-assessment tax for the rental income.I should have also added that my partner who I am buying with does have additional property, but the house we are buying is replacing his main residence that he sold a few months ago.I think the standard SDLT still applies?0
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It would help us to resolve your confusion if you could point us towards whatever you saw online.mizzbonita said:
I got confused with something I saw online.0 -
It’s on this website under the 3 year rule section
https://www.farrer.co.uk/news-and-insights/sdlt-the-higher-rates-for-additional-dwellings-and-the-main-residence-exemption/
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Ok, so when I clicked on further details it’s more clearer here. The question will then be about my partner’s circumstances but as he is replacing his main residence I think the standard SDLT applies?
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