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  • Tax

    Second House Purchase

    Mng Guys,

    My friend and his girlfriend are looking to buy a house together to live in. She already has a residential home and was thinking of keeping it and turning it into a BTL. If she did, would that mean they would have to pay the additional (second home) stamp duty on their new house purchase?

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    yes it would

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA

    Thanks for the reply.

    So would they have to pay the full additional stamp duty or as she is the only one that owns a second home would they pay half the additional stamp duty? 

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    on whole I'm afraid

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA

    Not the same, but related:

    If somebody holds one BTL in a Ltd Co and then goes on to buy their first private residential home to live in, are they exempt as it their first residential home held in their own name, or do they have to pay second home stamp duty as they already hold a house through their company?

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    Company is classed as separate entity

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    Yes I did think that but I wanted to make sure... thank you.

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