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Stamp Duty Question regarding "Main Residency"
Repromancer
Posts: 40 Forumite
Hi all,
I had a question, which I am hoping is easy to answer. I can see that it may have already been discussed previously, but I just needed clarification.
So, the situation is as follows:
- Property 1 purchased in 2007 - Main residence.
- Property 2 purchased in 2018 - Rented out. Paid higher Stamp-Duty at the time of purchase. Informed HMRC that Property 1 continues to be our Main Residence.
- Property 3 to be purchased now and will be lived in as Main Residence.
I have to pay the higher Stamp-Duty rate for the Property 3 purchase. However, I understand that if I dispose of Property 1 (previous main residence) within 3 years I will be eligible for stamp duty refund?
Even if I do not sell Property 2, and esentially own more than 1 property?
Thank you!
I had a question, which I am hoping is easy to answer. I can see that it may have already been discussed previously, but I just needed clarification.
So, the situation is as follows:
- Property 1 purchased in 2007 - Main residence.
- Property 2 purchased in 2018 - Rented out. Paid higher Stamp-Duty at the time of purchase. Informed HMRC that Property 1 continues to be our Main Residence.
- Property 3 to be purchased now and will be lived in as Main Residence.
I have to pay the higher Stamp-Duty rate for the Property 3 purchase. However, I understand that if I dispose of Property 1 (previous main residence) within 3 years I will be eligible for stamp duty refund?
Even if I do not sell Property 2, and esentially own more than 1 property?
Thank you!
0
Comments
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You are correct (provided the completion dates are not more than 3 years apart).1
-
Thank you. Do I have to nominate Property 3 as main residence before selling property 1?0
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no nomination applies to Capital Gains Tax,Repromancer said:Thank you. Do I have to nominate Property 3 as main residence before selling property 1?
You cannot nominate for SDLT, the test of which is the main residence is always a test of fact, not what you say on paper.1
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