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Where Taxpayers and Advisers Meet

Stamp duty holiday

Posts: 12
Joined: Sat Jun 17, 2017 3:26 pm

Stamp duty holiday

Postby popular » Mon Aug 03, 2020 11:31 am

My wife and I own our main home as tenants in common. In addition my wife owns buy to let solely in her name.
We are planning to sell our main home and replace it with larger main home. We are assuming that our replacement main home will be free of stamp duty up to a cost of £500,000 under the stamp duty holiday.
However does the fact that my wife owns a buy to let impact in any way on the stamp duty exemption on our replacement main home.

Posts: 422
Joined: Mon Feb 13, 2017 10:09 am

Re: Stamp duty holiday

Postby someone » Mon Aug 03, 2020 5:10 pm

If you sell and then buy then no, there is no additional rate as you are replacing your main home.

If you buy and then sell then yes, you do pay the 3% but you can reclaim the 3% once the sale is done.

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