Confusion about Stamp Duty

Confusion about Stamp Duty

16:12 PM, 12th October 2017, About 7 years ago 11

Text Size

We are in the process of downsizing, selling our principle residence and buying a smaller one . We will have to sell before we buy so there is no question of us owning two houses at the same time .
We also have one small rental property- a flat .

I have been told
1) we will be liable for the extra 3% stamp duty on the new principle residence
2) we will NOT be liable for the extra 3% stamp duty on the new principle residence .
Which is it ?

Many thanks

Gay

Editors Note:

Please see flow chart below


Share This Article


Comments

Chris Clare

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

15:14 PM, 26th October 2017, About 7 years ago

You are right that if you own a B2L and no main residence you will have to pay the extra. However if you have sold a main residence within 3 years of the purchase of the new main residence you do qualify for a rebate.

All of this is explained and demonstrated with the calculator above.

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More