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SDLT for second property when value of first property is less than £40000

samklx
Posts: 1
Joined: Thu May 18, 2017 10:35 pm

SDLT for second property when value of first property is less than £40000

Postby samklx » Thu May 18, 2017 11:39 pm

Hello,
I have an overseas residential property valued at £35,000 which I have rented out. I am planning to buy a property in UK which will be my main residence. Do I need to pay higher SDLT ?

There is an example ( example 36) in the section "Treatment of properties under £40,000" on the GOV UK -> SDLT website which states "residential properties worth less than £40,000 will not be taken into account when determining if an additional property is being purchased". Can I avoid higher SDLT under this clause?
Please help.

regards
Sam

maths
Posts: 6894
Joined: Wed Aug 06, 2008 3:25 pm

Re: SDLT for second property when value of first property is less than £40000

Postby maths » Fri May 19, 2017 7:04 pm

The 3% SDLT charge should not apply to your purchase if on the day of "completion" of your purchase the market value of your overseas property is less than £40,000.


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