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Where Taxpayers and Advisers Meet

BTL - Main residence SDLT rules

Dchs1
Posts: 2
Joined: Tue Aug 21, 2018 7:03 am

BTL - Main residence SDLT rules

Postby Dchs1 » Tue Aug 21, 2018 7:33 am

Hi everyone

I am looking to move to a new main residence.
I currently have 1 btl which was my previous home.
I am looking to once again convert my main residence to a btl and move to a new main residence.
Ideally I want to keep all properties

My question is what is my SDLT liability ie 3%
And is there any way of reducing It.

My thoughts were
convert current main residence to BTL while I look for new main residence (I can stay with friends) are there any SDLT implications of doing this?

Would main residence (when I find it) then be liable for SDLT3%?

Or Sell property 1 and do the above so I only have 1 btl
(I have read that this might make a difference)

Thank you so much for any help, this stuff is confusing :)

bd6759
Posts: 2960
Joined: Sat Feb 01, 2014 3:26 pm

Re: BTL - Main residence SDLT rules

Postby bd6759 » Tue Aug 21, 2018 8:00 pm

If you do not sell your current residence, you will be liable to the additional 3%.

Dchs1
Posts: 2
Joined: Tue Aug 21, 2018 7:03 am

Re: BTL - Main residence SDLT rules

Postby Dchs1 » Wed Aug 22, 2018 5:49 am

Thank you for replying,I thought that was the case.


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