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Where Taxpayers and Advisers Meet

3% Additional Stampduty (Own BTL property)

maahadevan
Posts:2
Joined:Fri Mar 24, 2017 3:37 pm
3% Additional Stampduty (Own BTL property)

Postby maahadevan » Fri Mar 24, 2017 4:28 pm

Hi,

I own a property in Northern Ireland and it has consent to let and is rented out. I have moved to England last year and since then have been living here in a rented property. I intend to buy a new residence which will be my primary residence and getting mixed messages from solicitors on the Stampduty that I am having to pay. Can you please advise if I still need to pay the higher stamp duty or will it be the standard stamp duty.

Thanks,
Mahadevan

RMC
Posts:435
Joined:Wed Aug 06, 2008 3:35 pm

Re: 3% Additional Stampduty (Own BTL property)

Postby RMC » Sat Mar 25, 2017 7:34 pm

Yes, the additional 3% stamp duty does apply. If it did not, landlords could avoid it by buying an investment property before home.purchase.

maahadevan
Posts:2
Joined:Fri Mar 24, 2017 3:37 pm

Re: 3% Additional Stampduty (Own BTL property)

Postby maahadevan » Sun Mar 26, 2017 8:14 pm

Thanks RMC for your response.

The reason why I am asking is due the previous posts in this forum which mentions about Finance Act -
FA 2003 Schedule 4ZA paragraph 3(5) is not satisfied as para 3(6) is satisfied (ie you will be replacing your sole/main residence and thus the 3% SDLT charge does not apply


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