Postby someone » Mon Apr 03, 2017 7:43 am
Hi Maths,
Thanks for all your insight on this. I've read and reread 6(b) and I can now understand your interpretation. I now agree that 6(c) is likely to be nickgo61's problem.
I'm also excited by your agreement with my 3 (7) "loophole". That does seem to indicate that we might be able to reclaim the 3% SDLT we expect to pay soon. (We have three years to investigate further)
Not sure I agree with you that husband and wife can transfer the current main home property before the 3% transaction. I'm assuming that the "current main home" will stay as "current main home" until the "new main home" transaction occurs and therefore (6) (d) appears to prevent a transfer to a spouse. Only if H&W can effect the transfer and move out until "new main transaction" occurs can the upfront payment of the 3% SDLT be avoided.
Of course, transferring "current main home" to spouse after "new main home" is purchased will cause the loss of any PPR on current main home. Owning the properties 99%/1% rather than 100%/0% might be a way to avoid this (doesn't work for me) as I think the 1% won't count as a major interest.