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Where Taxpayers and Advisers Meet

SDLT if you already own a TimeShare

TaxCuriousUK
Posts:1
Joined:Fri Feb 01, 2019 11:48 pm
SDLT if you already own a TimeShare

Postby TaxCuriousUK » Fri Feb 01, 2019 11:51 pm

DEAR ALL,
if you already own a timeshare overseas purchased for a very small amount of money, say GBP 10k, and you buy a property in the UK, are you expected to pay the additional 3% SDLT?

Thank you very much!

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: SDLT if you already own a TimeShare

Postby pawncob » Wed Feb 13, 2019 1:49 pm

Timeshare is not subject to SDLT, so any UK purchase will be at the lower rate.
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm10022
With a pinch of salt take what I say, but don't exceed your RDA


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