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Where Taxpayers and Advisers Meet

First time buyer: buy to let; non-resident; stamp duty "holiday"

RichardM1989
Posts:1
Joined:Tue Oct 20, 2020 7:51 pm
First time buyer: buy to let; non-resident; stamp duty "holiday"

Postby RichardM1989 » Tue Oct 20, 2020 7:58 pm

I am resident outside of England and Wales but am a UK citizen.

I am looking to buy my first property (anywhere in the world) with a view to renting the property out. The mortgage will be a buy to let mortgage.

My understanding is that the buy to let stamp duty rates do not apply to me because I have never owned a property before. I understand that the normal stamp duty rates should apply to me.

As there is currently a stamp duty holiday for normal stamp duty rates (up to purchases of GBP 500,000) my understanding is that I will be able to benefit from the stamp duty holiday.

Please can you confirm if you agree with this analysis.

Thanks in advance!

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

Re: First time buyer: buy to let; non-resident; stamp duty "holiday"

Postby SDLT Geek » Wed Oct 21, 2020 8:09 pm

Agreed. You need to complete by 31 March 2021.

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

Re: First time buyer: buy to let; non-resident; stamp duty "holiday"

Postby maths » Thu Oct 22, 2020 6:25 pm

Agree with SDLT Geek.

The "holiday" rates apply to a purchase of a residence (and the new non-resident charge is not in force as yet).

First time buyer relief would not (in the absence of the Holiday relief) apply as it is not intended to be your home.


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