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  • Tax

    Stamp duty on PPR

    Hi,

    Does anyone know how it stands with paying stamp duty on a PPR if there is a break in ownership, for example:

    Sell PPR then rent for 6 months then buy another PPR.

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    If you own a property, which is your main residence, then any other property you buy will be subject to the additional 3% stamp duty. If you then sell your main residence you have 3 years to buy another main residence. If you have another property and you buy a main residence after 3 years you will have to pay the additional stamp duty  of 3%. If you own a main residence and buy another property and move into the second property as a main residence you will have to pay the additional 3% but can reclaim it provided you sell the original main residence within 3 years. Hope this makes sense.

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    Thanks Derek for the reply, so if in my above example i sold my main residence ( i also own other properties ) and then rented for 6 months and then bought a new property as my main residence would this new purchase be subject to the lower rate of stamp duty?

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