Good morning,
I have read the discussion from last week regarding the holiday for all replacing the main homes.
It seems that it doesn't matter how many properties you have, as long as you only have one main "home" and you are selling it (either at the point of buying a new home or up to three years) you are exempt from stamp duty.
Our situation is similar to the other thread, but not exactly the same:
I currently rent with my wife and she owns 1 property that she lets out under her name (c. £140k of value). We also have a different SPV limited company with 1 property in it.
We are looking to buy our first home at roughly £430k.
I'm trying to understand if we will be eligible for the stamp duty holiday?
If I simply use the HMRC calculator, it asks me if I am replacing my main residence. In essence, I am, but from rental to owned.
If a sale has to accur in order to get the relief, I wonder what's the logic behind it?
Thanks in advance
I have read the discussion from last week regarding the holiday for all replacing the main homes.
It seems that it doesn't matter how many properties you have, as long as you only have one main "home" and you are selling it (either at the point of buying a new home or up to three years) you are exempt from stamp duty.
Our situation is similar to the other thread, but not exactly the same:
I currently rent with my wife and she owns 1 property that she lets out under her name (c. £140k of value). We also have a different SPV limited company with 1 property in it.
We are looking to buy our first home at roughly £430k.
I'm trying to understand if we will be eligible for the stamp duty holiday?
If I simply use the HMRC calculator, it asks me if I am replacing my main residence. In essence, I am, but from rental to owned.
If a sale has to accur in order to get the relief, I wonder what's the logic behind it?
Thanks in advance
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