This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Stamp Duty Reclaim

SuperSpurs106
Posts:19
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:19
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:4239
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.


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”