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Where Taxpayers and Advisers Meet

Yet Another Stamp Duty Land Tax Query

SimonS
Posts: 10
Joined: Wed Aug 06, 2008 3:59 pm

Yet Another Stamp Duty Land Tax Query

Postby SimonS » Fri May 24, 2019 7:50 am

Hi there,

My partner and I own 1 property each.

In addition to these, we bought a house in 2002 which was our main residence, until July 2016 when we sold it.

We are currently living in rented accommodation but would like to buy an additional property as our main residence.

I think we do need to pay the higher rate, but would like some confirmation please.

SDLT Geek
Posts: 164
Joined: Sun Apr 30, 2017 5:45 pm

Re: Yet Another Stamp Duty Land Tax Query

Postby SDLT Geek » Sun May 26, 2019 5:51 pm

You are likely to have to pay the extra 3% unless you can complete a purchase very quickly.

Assuming you both meet the other conditions you would need to complete the purchase of a new home within three years of the earlier of:
(a). Selling the previous home (July 2016)
(b). Last having lived in that property as your only or main residence.

SimonS
Posts: 10
Joined: Wed Aug 06, 2008 3:59 pm

Re: Yet Another Stamp Duty Land Tax Query

Postby SimonS » Thu May 30, 2019 9:51 pm

Thanks very much for the reply, we rented out the property in 2014 until we sold it in July 2016, so I think we'll still need to pay the surcharge?

SDLT Geek
Posts: 164
Joined: Sun Apr 30, 2017 5:45 pm

Re: Yet Another Stamp Duty Land Tax Query

Postby SDLT Geek » Fri May 31, 2019 6:13 pm

Yes, it seems the extra 3% will be due if you still own either of your other properties when the joint purchase completes (assuming they are worth £40k or more).


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