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Where Taxpayers and Advisers Meet

Unsure of main residence Stamp Duty & stake in another property

Theboy
Posts:1
Joined:Wed Mar 14, 2018 10:35 pm
Unsure of main residence Stamp Duty & stake in another property

Postby Theboy » Wed Mar 14, 2018 10:48 pm

Hoping someone can help!

In 2013 my mother purchased a house and put it in mine, my sisters and my brother's name, so we own a third each and not a majority share.

My wife and I are just about to sell our main residence and purchase a new main residence. Will we incur the additional 3% charge as I have a stake (a third) in another property (where my mom lives?). I haven't and never intend to live in the property where my mom lives.

Thanks in advance!

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Unsure of main residence Stamp Duty & stake in another property

Postby bd6759 » Thu Mar 15, 2018 6:26 pm

No, The 3% does not apply if you are buying a new residence and selling your old residence.


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