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Where Taxpayers and Advisers Meet

SDLT and bare ownership overseas

Kiruz
Posts:1
Joined:Tue Mar 14, 2017 4:25 pm
SDLT and bare ownership overseas

Postby Kiruz » Tue Mar 14, 2017 4:33 pm

I own the bare ownership of my father's flat in Italy (he's living there and I can't sell it/rent it or manage it until he passes away- at that point I will get the full ownership).
I've lived in UK for the past 4y and my residence is here in a rented flat.
Now I want to buy a flat in which I will live (and move my residence).
Considering that my main/only residence is here and that I have no active right on the flat in Italy, Do I have to pay the surplus rate of SDLT?
Thank you

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: SDLT and bare ownership overseas

Postby maths » Wed Mar 15, 2017 10:19 pm

No 3% SDLT charge should apply as the flat you currently occupy will be ignored and bare ownership of overseas property should equally be ignored.


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