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  • Tax

    SDLT Relief for Multiple Dwellings

    I have e-mailed my solicitor to ask his advice but he is not back until next week.  I have spoken to my accountant who thinks it may well qualify but thinks the amount paid would be £4k per unit although I am assuming that he thinks the 'normal' SDLT for a £100k property is £1k (1%) whereas my understanding is that it is Nil for <£125K, so hence 3% or £3k per £100k unit.

    I will of course let you know if/when I finally get a definitive answer!

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    No reply from my solicitor after 8 days (may not be using him again!) so after reading a very relevant article by Richard Spencer of Converse Law on page 18 of this months YPN magazine, I called him. ( I had used him for conveyancing a few years ago for a purchase of a PRC house that we subsequently pulled out of).

    His opinion is that these properties definitely would be subject to the full relief, so the SDLT applicable would be 6 properties @ £100k purchase price x 3% so a total of £18k which is probably manageable when you consider it would have been £38k for a £600k property.

    Big thank-you to Richard for clearing this up and hope this information helps others out there!

     

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