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Second home stamp duty question
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Posts: 71 Forumite
Hi in 2020 I moved home and purchased my current property. My precious home was rented out. I paid the additional stamp duty surcharge on the purchase of my current home.
so at present I own two houses one my primary residence and the original home (let out).
I am now looking at selling my current residing home and buying a larger house.
at the end of the transaction will still have two homes the original house (let out) and my new primary residence.
will I have to pay the additional rate again? Or was that just a one off transaction as I’m only replacing my primary residence.
so at present I own two houses one my primary residence and the original home (let out).
I am now looking at selling my current residing home and buying a larger house.
at the end of the transaction will still have two homes the original house (let out) and my new primary residence.
will I have to pay the additional rate again? Or was that just a one off transaction as I’m only replacing my primary residence.
0
Comments
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If you sell your primary residence at the same time as buying your new home, you don’t need to pay the 5% higher SDLT.If you buy the new home before selling, you do pay the higher rate, but you can claim that back if you sell the primary residence within three years.I’m talking about England, but the other countries in the UK are probably similar.No reliance should be placed on the above! Absolutely none, do you hear?1
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