SDLT penalising landlords taking the plunge to move out from parents homes!

SDLT penalising landlords taking the plunge to move out from parents homes!

11:45 AM, 8th June 2017, About 8 years ago 12

Text Size

After a lot of research I have unfortunately learned that the new SDLT rates with a 3% surcharge will apply to myself.

I am currently a landlord, but still living with parents.

I am in the process of buying my first main residential property however, as I am not selling any home ‘disposing’ and only moving out of parents house I am being hit with these higher rates.

The government is penalising people for moving out of parents homes! I have came to accept this, but what I am interested in is whether I was to sell my only BTL within 3 years could I claim the tax back or not as I have never technically lived at this property, but it was my only property?

Also in the future if I keep my BTL, but sell my new main residence that I am paying he tax on, and buy a new main residence, will I have to pay the higher rates again or will I be exempt as I am technically ‘replacing my main residence’ or is this relief only for a period of time?

Thanks

Paul


Share This Article


Comments

Neil Patterson

Become a Member

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

Sign Up

10:38 AM, 29th November 2017, About 7 years ago

Interesting question and you have 3 years moving forward in which to sell a main residence and get a refund, but there is no mention of backdating the main residence so I am guessing especially as you own 3 properties that HMRC will try to wriggle out of a refund, but it may be worth checking back with your solicitor.

Become a Member

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

Sign Up

3:21 AM, 21st June 2022, About 3 years ago

Any updates on this?

I am in the same boat?

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