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Where Taxpayers and Advisers Meet

Stamp duty with a property abroad.

darioolivares
Posts:2
Joined:Tue Nov 28, 2017 7:17 pm
Stamp duty with a property abroad.

Postby darioolivares » Tue Nov 28, 2017 7:19 pm

HI all,

I have a house abroad since 2006. It has never been my main residence as I rented since I bought it. My plan is to sell the house in the near future as i do not get any profit from it as the rent is lower than the mortgage.

I am also in the process of buying a house in England with my girlfriend (she does not have a house elsewhere). We are living in a rented property.

Is there a way to escape the 3% SDLT for second residence?

Thank you very much.

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

Re: Stamp duty with a property abroad.

Postby bd6759 » Tue Nov 28, 2017 8:42 pm

Is there a way to escape the 3% SDLT for second residence?
Yes. Sell your other house first.

darioolivares
Posts:2
Joined:Tue Nov 28, 2017 7:17 pm

Re: Stamp duty with a property abroad.

Postby darioolivares » Tue Nov 28, 2017 8:53 pm

thanks for the reply.

I dont think that is a possible solution as it is not my main house. My understanding is that you can claim the refund only when you change your main residence.

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

Re: Stamp duty with a property abroad.

Postby maths » Tue Nov 28, 2017 9:45 pm

The problem arises because you end up owning more than one property i.e. new residence and buy to let.

Refund of the 3% if paid is only available if you sell one residence and replace with the purchase of another residence; you're not doing this.

Hence need to sell buy to let first.


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