Buying and selling

bruno100

I have been worried by Angela Raynor! I own 3 buy to let properties (having extended their leases but careful not to exceed the £40k annual threshold), and am currently selling my main property (not one of the 3) and buying another home to avoid the additional SD tax on this. So far so good I think, but just to complicate matters I took delivery of a part (50%) of a Spanish property recently worth £320k. Help!!?? 

MeteredOut

Not answering your question, but your post might get a better response on the https://forums.moneysavingexpert.com/categories/house-buying-renting-selling board where there are a number of people with a lot of knowledge about SDLT.

I'll report it and ask for it to be moved.

Keep_pedalling

What do you mean by took delivery? 

GrumpyDil

If the question is what stamp duty you will pay if you sell your existing main residence and then buy a new main residence the answer is you will pay the normal rate with no addition rate.

itsthelittlethings

I think the lesson from Angela Raynor is that if you have a complicated situation you should get expert advice.

poseidon1

It's curious but clearly deliberate loophole, but as long as you are buying  a residence  to live  which replaces or will replace ( with 36 months )  your existing main residence, there is no 2nd property SDLT or a refund is due.

See below extract from  HMRC guidance - 

 " If you’re replacing your main residence

You will not pay the extra 5% SDLT if both of the following apply:

• the property you’re buying is replacing your main residence
• your previous main residence was sold within 36 months of completing your new purchase

If you have not sold your main residence on the day you complete your new purchase, you’ll have to pay higher rates. This is because you own 2 properties.

Check if you’re eligible for a refund of the higher rates of SDLT "