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Where Taxpayers and Advisers Meet

SECOND HOME STAMP DUTY

ChrisReynolds1
Posts:2
Joined:Tue Jun 09, 2020 4:20 pm
SECOND HOME STAMP DUTY

Postby ChrisReynolds1 » Tue Jun 09, 2020 4:52 pm

I am sure this has been asked before but cannot find it. I own a house which I rented out for the last 16 years whilst I was living abroad. I returned to the UK 5 years ago but went into rented accommodation as my tenant of 15 years still wanted to live in the house and was very ill. I now want to buy another house and have had conflicting advice on whether or not I have to pay the higher rate tax. Any advice would be appreciated

jerome.lane
Posts:237
Joined:Mon Aug 12, 2019 8:41 am
Location:Sandhurst, Berkshire
Contact:

Re: SECOND HOME STAMP DUTY

Postby jerome.lane » Tue Jun 09, 2020 9:21 pm

You won’t be replacing your main home and will own another residential property at the time of purchase, so you will have to pay the additional rate of SDLT as far as I can tell.
Jerome Lane
Tax Adviser
Telephone: 07943 005902

SDLT Geek
Posts:232
Joined:Sun Apr 30, 2017 5:45 pm

Re: SECOND HOME STAMP DUTY

Postby SDLT Geek » Tue Jun 09, 2020 9:52 pm

Yes, the higher rates are due on the purchase.


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