Hi Guys
Hope you are all safe, well and in good health.
I have a quick question re the stamp duty surcharge.
I currently have a BTL property in my name. I currently rent the property that I live in but am looking at purchasing another property to be my main residence. I understand that this scenario would mean that the 3% surcharge would be applicable as I am not disposing of my main residence.
I am actually also in the process of gifting my BTL to a family member. There is no mortgage on the property and the gift will be for no consideration. Therefore, no stamp duty for them. Could this also mean that I will not have to pay the surcharge, if I am gifting the BTL?
Do I have to gift prior to purchasing myself or can i buy a property, potentially pay the surcharge and then claim this back when the gift of the BTL goes through?
Any assistance will be gratefully received. thank you.
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