We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Stamp Duty

Not sure if this is the right place to post.
I own a property and have 20% ownership of another property.
Additionally, I have just purchased a retirement flat and have had to pay 5% stamp duty.
Can I reclaim any of the stamp duty paid when I sell the property I own fully or do I have to sell the 20% share too?
Any advice welcome and thanks for reading.

Comments

  • saajan_12
    saajan_12 Posts: 5,380 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    For some clarity, you own 3 (partial) properties: 
    Property A owned in full
    Property B own 20%
    Property C retirement flat purchased recently

    Questions: 
    * Is A your main residence? 
    * What purpose did you buy C for - to live in and if so when?
  • Teddy28
    Teddy28 Posts: 7 Forumite
    Fifth Anniversary First Post
    Yes, A is main residence until I move into C in the next couple of weeks.when I intend to put A on the market.  Any guidance most welcome.  Thank you.  
  • saajan_12
    saajan_12 Posts: 5,380 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Upon purchase, you'd pay the higher rate on C. 
    Upon the sale completing of A, you'd claim a refund on the extra 5% since you meet the criteria of replacing your main residence (intention of the purchase was to live in, which you did within 3 years and sold the old main residence). 

    Property B is irrelevant, doesn't need to be sold. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.6K Banking & Borrowing
  • 253.8K Reduce Debt & Boost Income
  • 454.5K Spending & Discounts
  • 245.6K Work, Benefits & Business
  • 601.6K Mortgages, Homes & Bills
  • 177.7K Life & Family
  • 259.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.