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Where Taxpayers and Advisers Meet

Keeping my old residence worth less than £40000

moonkeh
Posts: 2
Joined: Sat Feb 16, 2019 1:50 pm

Keeping my old residence worth less than £40000

Postby moonkeh » Sat Feb 16, 2019 2:03 pm

My main residence, which I fully own, is worth less than £40,000. If I purchase a new house as my main residence, can I keep the old house without having to pay the 3% surcharge due to its low value? I do not own any other properties.

SDLT Geek
Posts: 155
Joined: Sun Apr 30, 2017 5:45 pm

Re: Keeping my old residence worth less than £40000

Postby SDLT Geek » Sat Feb 16, 2019 4:04 pm

Yes. Condition C is not met if your existing property is worth under £40,000. So the extra 3% should not apply.

moonkeh
Posts: 2
Joined: Sat Feb 16, 2019 1:50 pm

Re: Keeping my old residence worth less than £40000

Postby moonkeh » Sat Feb 16, 2019 4:58 pm

Thanks.


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