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Where Taxpayers and Advisers Meet

Stamp duty on 2nd property

Gemma3378
Posts: 1
Joined: Thu Sep 05, 2019 9:57 pm

Stamp duty on 2nd property

Postby Gemma3378 » Thu Sep 05, 2019 10:01 pm

Hi, I own two holiday Chalets, they cannot be lived in all year round, they are seasonal between March and October. They are rented out as a business.
They are worth £20,000 each.
We are currently living in rented accommodation and have been for 18 years but are now in position to buy our own home, will it be classed as a 2nd property and if so, Will we have to pay the higher rate of stamp duty?

AGoodman
Posts: 827
Joined: Fri May 16, 2014 3:47 pm

Re: Stamp duty on 2nd property

Postby AGoodman » Fri Sep 06, 2019 3:00 pm

No, because neither is worth more than £40k


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