2nd Home Refund Definition of Main Buyer

[BKD1972]

Hello, I hope somebody can help me please.

I own a property that me and my wife live in after we recently married. We are purchasing a 2nd property to live in but keeping the current one until after completion on the 2nd. We will then sell this one.

I know we can claim the SDLT back provided we sell the previous main residence within three years.

However , I'm not fully understanding this clause and google is not throwing up any answers.

"You can apply for a refund of the higher rates of SDLT for additional properties if you’ve sold what was previously your main home. You have to be either the:

main buyer of the property charged at the higher rate of SDLT "

We are buying it in joint names so are we bothy classed as main buyers and therefore able to claim the refund?

What is the definition of 'main buyer' please?

[AGoodman]

I think you're fine. The legislation is in para 3(7) Sch 4ZA Finance Act 2003 (see below).

Nowhere in the stamp duty legislation does it mention a "main buyer". You don't mention the source so I can't check it out. I only saw it in the google "AI Overview". I cannot stress this enough - DO NOT get tax advice from AI.

https://www.legislation.gov.uk/ukpga/2003/14/schedule/4ZA

[BKD1972]

I think you're fine. The legislation is in para 3(7) Sch 4ZA Finance Act 2003 (see below).

Nowhere in the stamp duty legislation does it mention a "main buyer". You don't mention the source so I can't check it out. I only saw it in the google "AI Overview". I cannot stress this enough - DO NOT get tax advice from AI.

https://www.legislation.gov.uk/ukpga/2003/14/schedule/4ZA

Good Morning and thankyou for your reply. It was here that I saw it which then prompted me to write this.

https://www.gov.uk/guidance/apply-for-a-refund-of-the-higher-rates-of-stamp-duty-land-tax

We would both own 50%

[BKD1972]

I think Ive misinterpreted it

I think what it means is the person applying has to be the main buyer or an agent acting for the main buyer

When to apply for a refund of Stamp Duty Land Tax (SDLT)
You can apply for a refund of the higher rates of SDLT for additional properties if you’ve sold what was previously your main home. You have to be either the:

main buyer of the property charged at the higher rate of SDLT
agent acting for the main buyer
You must have sold your previous main home within 3 years of buying the new property, unless exceptional circumstances apply.