Here’s one for any kind SDLT expert please:
I own my main residence, bought in Nov 2014, which I don’t intend to sell.
I bought a 2nd home in Oct 2016 (NOT for buy-to-let) and paid the new 3% SDLT surcharge.
I now want to buy a 3rd home and, shortly after, sell the 2nd.
Am I right that I can claim back the 3% surcharge paid on the 2nd home, assuming I sell it within three years of buying the 3rd?
And, if so, is the claim-back achieved by treating it as part of the purchase cost when I do the CGT calculation for the 2nd home?
And if that’s all right, what happens if the gain (if any) on the sale is less than the 3% surcharge paid? Do I just have a CGT loss to carry forward or to offset against other gains?
It’s only the 3% surcharge that can reclaimed, right - not the full amount of SDLT paid on the 2nd home?
I’m hoping I’ve got this right - because it’s too important to get wrong!
All are UK properties and I’m UK tax resident.
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