Hello my friends, I want to start by saying I know very little on tax and really want to learn more. I appreciate the information on this forum.
I live with parents and have a BTL property that I bought in 2014. I am now ready to purchase my own home with my wife, and it helps negotiations if I am chain free. Aim is to buy the home and then sell my BTL property after 1 year. The HMRC rules on stamp duty refunds states I can have a refund on the additioanl stamp duty if:
you sell your previous main residence within three years, and.
you claim the refund within three months of the sale of your previous main residence, or within 12 months of the filing date of your SDLT tax return, whichever comes later.
^^ In my case however, my sole property that I own is a BTL that I do not live in.
On one hand It's technically not my main residence as I don't live there, but I own no other property outside of this. So if I bought my first residential home, can I still claim stamp duty relief if I sold my BTL flat within 3 years?
Many thanks for the clarifications, and thanks for baring with future silly questions.
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