Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • w00519772
    • By w00519772 16th Apr 17, 8:55 PM
    • 1,193Posts
    • 213Thanks
    w00519772
    What if the home I am buying will be!my main residence?
    • #1
    • 16th Apr 17, 8:55 PM
    What if the home I am buying will be!my main residence? 16th Apr 17 at 8:55 PM
    I was reading about the new stamp duty rules: http://www.zoopla.co.uk/discover/buying/q-a-new-3-stamp-duty-surcharges/#qWJlsSA2pe2gYre0.97 and specifically the question: What if the home I am buying will be!my main residence?

    How does this work in the scenario where you buy a new property; move house to the new property and then rent out your existing property? I assume you would have to pay the higher rate of stamp duty? On Zoopla it says:

    "A owns both a main residence and a second home. She sells her main residence and purchases a new one. Although she has two properties at the end of the day of the transaction, she has replaced her main residence so the higher rates will not apply."
    But replacing your main!residence means the last one (or at least a 'major interest' in it) will need to be disposed of!(eg,!SOLD or GIFTED).!If!

    I guess "dispose" does not extend to renting out your current property and moving to the new property?
Page 2
    • 00ec25
    • By 00ec25 6th Jan 18, 4:08 PM
    • 6,507 Posts
    • 6,058 Thanks
    00ec25
    Well, what does it say then? I am just trying to understand my options - certainly not grasping at straws.
    Originally posted by w00519772
    you were told your options in May 2017. Why are you persisting in reading out of date articles rather than the HMRC info you've been given?
    • Slithery
    • By Slithery 6th Jan 18, 4:11 PM
    • 721 Posts
    • 1,129 Thanks
    Slithery
    Whatever it says is irrelevant, because it is now out of date information that has been replaced with new rules.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,927Posts Today

9,135Users online

Martin's Twitter