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Stamp Duty
Teddy28
Posts: 7 Forumite
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.
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.
0
Comments
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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?0 -
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.0
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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.0
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