Higher rate of SDLT when property owned is not main residence?
Posted: Thu May 18, 2017 7:39 pm
Hi,
I am having trouble establishing what my main residence is and whether I need to pay the higher rate of SDLT.
I purchased a property in 2000 and since 2006 have not lived in this property. I have lived and worked abroad and moved back to the UK 3 years ago when I have been renting property ever since, as the property I own is too far from work for me to be able to commute.
I am now in the process of purchasing a property for me to live in that is close to work and have had a residential mortgage approved for the purchase. I am not planning to sell the current property I own.
Am I liable to pay the higher rate of SDLT?
Thanks in advance.
I am having trouble establishing what my main residence is and whether I need to pay the higher rate of SDLT.
I purchased a property in 2000 and since 2006 have not lived in this property. I have lived and worked abroad and moved back to the UK 3 years ago when I have been renting property ever since, as the property I own is too far from work for me to be able to commute.
I am now in the process of purchasing a property for me to live in that is close to work and have had a residential mortgage approved for the purchase. I am not planning to sell the current property I own.
Am I liable to pay the higher rate of SDLT?
Thanks in advance.