Situation: 1 main residence (on residence mortgage); 1 BTL (on BTL mortgage) both in Scotland
Rationale: "selling up your main residence to buy a new one will not attract 3% second home stamp duty, even if you have a current BTL"
Plan: selling up the main residence in Scotland to buy a new one in England (BUT see below...)
Action: Converting the BTL as my main residence and the main residence as BTL (bank will update mortgages types no problems). Then, selling up the property with main residence status (ex BTL) to buy a new residence.
Final situation: still only 2 properties owned: 1 main residence, 1 BTL
Question: will this transaction still attract the 3% second home stamp duty, or will it fall under the rationale listed above?
**I'm getting loads of conflicting advices from "tax advisors"** Any help will be much appreciated, thanks
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