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  • Tax

    Stamp Duty Query

    Hi there,

    Myself and my wife own a flat that was our main residence but is now let out on a BTL mortgage. We ourselves are renting at present. I am purchasing a new house with my sister (wife will not be on mortgage but will be living in the house). As a result the additional stamp duty will apply.

    If we were to sell the flat within 3 years would i be entitled to a refund of some of the stamp duty?

    Thank you in advance

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    Yes you will get back the extra paid amount.

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    Yes unless your sister has another property and is not replacing her main residence.

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA

    IIn my humble opinion  this is more complicated than it seems. The question would be are you replacing your main residence. That would actualy be no as it is now a rental. I think you need to speak to HMRC to see their view, as they may view it as I do or they may view it as others have. Do they give you credit for fact it was previously your main residence?

    Also when does 3 years start? At time it ceased to be your main residence or when you complete. Normaly it's completion. 

    It might be you have to move back into the flat 1st for it to count.

    Lots of answers to get before you know definitively. 

    Please keep us informed of result.

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    t would count as a replacement if previous residence sold within 3 years of purchasing a new one.

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA

    Thank you all for your input. It is most appreciated.


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