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Where Taxpayers and Advisers Meet

Stamp duty rate

limoges
Posts: 18
Joined: Sun Feb 13, 2011 12:51 am

Stamp duty rate

Postby limoges » Sun Feb 12, 2017 6:01 pm

I sold my primary home over 11 years ago and went to live with my divorced daughter at her home. She is about to remarry and I have decided to purchase a flat to enable the new couple to enjoy their privacy. However I already own a buy to let property which I have never lived in.
I gather from some recent posts I have read, that as I have no primary home it means that I can purchase a property as a replacement for my primary home without incurring the extra 3% stamp duty, notwithstanding the fact that I would become the owner of a second property. Is my understanding correct?

section 44
Posts: 4468
Joined: Thu Oct 30, 2008 12:47 pm

Re: Stamp duty rate

Postby section 44 » Mon Feb 13, 2017 10:33 am

Is my understanding correct?
No. As described you aren't replacing your home.

jayhay
Posts: 17
Joined: Tue Jun 23, 2009 8:46 pm

Re: Stamp duty rate

Postby jayhay » Mon Feb 13, 2017 12:36 pm

Limoges is merely replacing the primary home he/she sold 8 years ago, so the extra 3 % should not apply. Unless there is some sort of time limit on the sale of a primary home and the acquisition of a replacement primary home.

section 44
Posts: 4468
Joined: Thu Oct 30, 2008 12:47 pm

Re: Stamp duty rate

Postby section 44 » Mon Feb 13, 2017 2:25 pm

Unless there is some sort of time limit on the sale of a primary home and the acquisition of a replacement primary home.
You mean like the 3 year time limit?

maths
Posts: 7562
Joined: Wed Aug 06, 2008 3:25 pm

Re: Stamp duty rate

Postby maths » Mon Feb 13, 2017 5:41 pm

If you are the sole purchaser of a property which you intend is to be your sole or main residence then the 3% SDLT charge will not apply to the purchase (assuming purchase is "completed" on or before 25 November 2018).


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