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Where Taxpayers and Advisers Meet

Stamp Duty Reclaim

SuperSpurs106
Posts:24
Joined:Wed Jun 15, 2022 3:25 pm
Stamp Duty Reclaim

Postby SuperSpurs106 » Tue Jan 31, 2023 11:58 am

Hi

I have two clients (father and daughter) who own a property (main residence) as tenants in common. Father only owns his share of this property but Daughter owns her share of this property and a holiday home.

If they were to buy a new main residence (and pay the SDLT 3% surcharge) and then sell the current main residence, would Father be able to reclaim the 3% surcharge on his share? Also, if anyone has a link to the answer, that would be great.

Thanks in advance.

SuperSpurs106
Posts:24
Joined:Wed Jun 15, 2022 3:25 pm

Re: Stamp Duty Reclaim

Postby SuperSpurs106 » Tue Jan 31, 2023 12:53 pm

I have been informed that HMRC would treat the transaction as a whole and would not give a partial refund to the party who did not own a holiday home.

bd6759
Posts:4360
Joined:Sat Feb 01, 2014 3:26 pm

Re: Stamp Duty Reclaim

Postby bd6759 » Tue Jan 31, 2023 5:04 pm

Both parties are acquiring a new residence and disposing of an interest in a previous residence. The whole 3% could be reclaimed as both parties meet the requirement.


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