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Where Taxpayers and Advisers Meet

SDLT surcharge on BTL if only dwelling owned

Joined:Thu Nov 12, 2020 1:00 pm
SDLT surcharge on BTL if only dwelling owned

Postby WillCo » Thu Nov 12, 2020 1:18 pm

I’m living with my girlfriend in her house. If I bought a buy to let on my own, could I elect to pay the 3% SDLT surcharge on it although it would be the only property I owned? The rationale would be that we may not have to pay the surcharge if later, my partner sold her property and we jointly bought a higher value property as our main residence?

Joined:Sun Apr 30, 2017 5:45 pm

Re: SDLT surcharge on BTL if only dwelling owned

Postby SDLT Geek » Thu Nov 12, 2020 5:17 pm

No, this does not work if you buy personally. If you chose to overpay SDLT on your first purchase, that does not improve your position when you buy a second.

If your company buys the investment property, then it pays the extra 3%, leaving you without a property until you buy a home. Does that help?

Are you planning to be married or civil partners by the time of your girlfriend’s sale? If so, the extra 3% might not be due anyway, even with you personally owning the investment property.

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