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Where Taxpayers and Advisers Meet

Additional Property SDLT

AMUK786
Posts:8
Joined:Fri Sep 25, 2020 10:17 pm
Additional Property SDLT

Postby AMUK786 » Sat Sep 26, 2020 11:24 pm

Hi All,

A quick clarification on the additional property SDLT:

I am selling my main residence and purchasing a new main residence (£800k). SDLT I work out £300k * 3% = £15k
I also have two BTL properties.

If I am selling my main residence for a new main residence but I still have the BTL properties then do I still have to pay the additional property tax? - I work it out to be additional £24k so £39k altogether.

Thanks

Samson22
Posts:58
Joined:Mon Aug 17, 2020 10:54 am

Re: Additional Property SDLT

Postby Samson22 » Sun Sep 27, 2020 1:41 am

No the additional stamp duty does not apply.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Additional Property SDLT

Postby maths » Sun Sep 27, 2020 1:57 pm

Agree with Samson22.

Only if new residence acquired before sale of old one then 3% charge applied but can then be recovered.

AMUK786
Posts:8
Joined:Fri Sep 25, 2020 10:17 pm

Re: Additional Property SDLT

Postby AMUK786 » Mon Sep 28, 2020 2:45 pm

Thank you, that's a sigh of relief.


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