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Stamp duty query
My sister and I are looking for advice about applying for the second home stamp duty refund.
The situation is:
I own Property A
My sister owns Property B
We jointly own Property C (with a split of 57/43)
We have paid the second home stamp duty and will be applying for a refund.
Do we need to wait for properties A & B to both be sold before applying?
Comments
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So you are both planning to sell your own homes and move into C as your main home? Im not sure how it works with joint ownership, but for single owners you need to sell your own home first (within 36 months of buying C) to get a refund.
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Isn't there a time limit for the refund ? How long have you owned property C ?
Cannot see the stamp duty refund being allowed till property C no longer is classed as a second home. So I cannot see a refund occurring till both are sold.
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both A & B must be sold re sold (assuming C is now the new main home of each of you)
there is a time limit - the sales must take place within 3 years (36 months) of the date of purchase of C. Exceed that limit and you will not qualify for a refund.
Once the sale takes place you have 12 months in which to submit the actual refund claim
These are simple facts you can check for yourself
SDLTM09800 - SDLT - higher rates for additional dwellings: Condition D - general - Para 3(6) Sch 4ZA FA2003 - HMRC internal manual - GOV.UK1 -
As others have said, there are conditions to meet before the extra refund of the additional property SDLT surcharge can be sought.
One condition is that when Property C was bought by you and your sister, you both intended to live in it as your only or main residence. Was that the case?
Another condition relates to the sale of a property that used to be your main residence. From what you say tis is likely to require the sale of both of Property A and Property B, but that depends on the details of the property ownership of each of you and where you have been living.
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did you buy C as joint tenants or tenants in common?
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