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  • Tax

    Additional Stamp Duty Tax

    A married couple jointly own a residential property that they live in, the husband also owns seperate BTL properties. If they were to gain consent to Let on their joint residential property to let it out and then purchased a new residential property to live in as a main residence would this satisfy the criteria of ‘replacing their main residence’ in terms of not being liable for the additional stamp duty tax or would they be required to pay the extra 3% stamp duty on the new purchase? Thanks Smile

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    They have to pay the extra 3% stamp duty, as they are not selling the property they own jointly.

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    As they are keeping there current residential they will have to pay the 3% extra stamp duty.

    If the existing residential is sold (isntead of renting) then the normal amount.

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    The above post is not financial advice, its often me rambling - passing time on a coffee break.
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