This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

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:4467
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:4467
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


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”