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Where Taxpayers and Advisers Meet

Stamp duty on let to buy

larryz5150
Posts:2
Joined:Mon Sep 13, 2021 5:36 pm
Stamp duty on let to buy

Postby larryz5150 » Mon Sep 13, 2021 7:18 pm

Hello,

We are remortgaging our current home in order to buy a new residential property. We hope to move into the new residential property and rent out our current home.

What stamp duty must we pay?

For example let’s say -
a) our current home which we hope to rent out is valued at £300k
b) a new residential property where we will move into is worth £350k

Many thanks in advance.

AGoodman
Posts:1310
Joined:Fri May 16, 2014 3:47 pm

Re: Stamp duty on let to buy

Postby AGoodman » Mon Sep 20, 2021 5:24 pm

£18,000 if you complete after 1/10/21

If you sell the 1st property within 3 years, you can reclaim £10,500

AGoodman
Posts:1310
Joined:Fri May 16, 2014 3:47 pm

Re: Stamp duty on let to buy

Postby AGoodman » Mon Sep 20, 2021 5:24 pm

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

larryz5150
Posts:2
Joined:Mon Sep 13, 2021 5:36 pm

Re: Stamp duty on let to buy

Postby larryz5150 » Wed Sep 22, 2021 4:47 am

Thank you


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