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Where Taxpayers and Advisers Meet

First residential Purchase confusion on SDLT

Johnnyb0y
Posts: 2
Joined: Thu Feb 09, 2017 3:55 am

First residential Purchase confusion on SDLT

Postby Johnnyb0y » Thu Feb 09, 2017 4:11 am

Hi ,

Slightly confused buyer here since i've had conflicting opinions from solicitors

I have 3 buy-to-let properties bought with a friend and we have a 50/50 share in each. All have a proper buy-to-let mortgage.

I still live at home with my parents and was looking to purchase my first residential property.
This would be my new primary residence as i would move out of my parents place and live at the new place.
My parents are not selling up.

Would i be liable for the extra 3% for the higher rate SDLT?

John

section 44
Posts: 4468
Joined: Thu Oct 30, 2008 12:47 pm

Re: First residential Purchase confusion on SDLT

Postby section 44 » Thu Feb 09, 2017 11:39 am

Yes.

Johnnyb0y
Posts: 2
Joined: Thu Feb 09, 2017 3:55 am

Re: First residential Purchase confusion on SDLT

Postby Johnnyb0y » Sat Feb 11, 2017 3:21 am

thats a shame.

I wonder why so many solicitors were 50/50 about it.

section 44
Posts: 4468
Joined: Thu Oct 30, 2008 12:47 pm

Re: First residential Purchase confusion on SDLT

Postby section 44 » Mon Feb 13, 2017 4:23 pm

sounds like they don't understand the rules


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