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3% stamp Duty - reclaim

Andyposterfan
Posts: 1
Joined: Mon Nov 13, 2017 10:58 pm

3% stamp Duty - reclaim

Postby Andyposterfan » Mon Nov 13, 2017 11:16 pm

Currently if you buy a second home you pay additional SDLT 3% but if you sell within three years you can reclaim this additional 3%.

We are buying a new house but want to keep ours for a year while we renovate the new one. After that year we plan to sell off the first reclaim the 3% and only hold one property.

My only concern is what if the rule about the 3% reclaim changes at a later date? Is that possible?

Matthew Armstrong
Posts: 3
Joined: Sat Nov 11, 2017 11:07 pm

Re: 3% stamp Duty - reclaim

Postby Matthew Armstrong » Tue Nov 14, 2017 11:38 am

HI Andy, any changes which happen after your transaction won't affect you. If you get a quote fro SDLT now on gov.uk, they ask for the date of the transaction so as to apply the correct rules for that period.

All the best

Matthew

maths
Posts: 6995
Joined: Wed Aug 06, 2008 3:25 pm

Re: 3% stamp Duty - reclaim

Postby maths » Tue Nov 14, 2017 9:35 pm

Even if changes occur they are unlikely to be retrospective.

Once you've purchased a new home you should be able to reclaim the 3%; even if they, say, reduced the period for a reclaim to 18 months it is likely the 3 years applicable to when you bought would still apply under some from of transitional rule.


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