Stamp duty when owner moves back to uk from abroad

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    Stamp duty when owner moves back to uk from abroad

    Hi Everyone...

    I have looked for an answer to this question for some time,

    If I sell my house in France where I live at the moment, (where I am resident) and then live in my UK property (which will become my main residence) which has been let for 7 years to various occupants, how long will I have to stay there before I sell it and buy somewhere else, so that I won't be liable for the new stamp duty rate on my new house purchase which will then become my main residence. anyone know???? Also, I have another property which is let at the moment and will carry on being let, I have no plans to sell it!....Thanks in advance to anyone who can advise

    #2
    If you already have a property registered under your name, you have to pay the extra 3% sdlt on any new purchase.

    If you are buying a new main residence , you can claim exemption to paying the extra 3% if you have recently sold your main residence in France. Or you can claim back 3% sdlt , if you sell the old main residence within 3 years of the new purchase. .

    Comment


      #3
      Hi Gordon999

      Thank you for your reply, so providing I am buying a property as a main residence in the UK and I have disposed of my French home, I will not be liable for the extra 3% stamp duty, even though I will have sold one of the BTL's and kept the other one ?

      I remember when I discussed this with my solicitor some time ago, he advised that I would be liable for the extra 3% as I still had BTL property, I thought at the time he was incorrect as I would be buying a main residence, and would have sold the one in France.

      Comment


        #4
        P.S.....and it will not make any difference if I live in one of the buy to lets (which will become my main residence) before selling it (the BTL that I will live in until I find a suitable main residence)

        Comment


          #5
          You should follow your solicitor's advice . I am not qualified to give advice and may be wrong.

          Comment


            #6
            If you own a property in the UK and buy another one, the 3% is payable. Its that simple. Its not avoidable

            Comment


              #7
              Hi All...

              Following on from my original post, I have found some information from WARDS Solicitors, and this is what they say in answer to my question

              'The majority of homeowners possess only one home or property and are unaffected by the new surcharge. An individual buying a second residential property can pretty much expect to pay the new stamp duty penalty or surcharge on that purchase. An exception is where the purchase is to replace a main residence. For this to apply there must be a sale of the existing main residence and the purchase of a replacement for it. Therefore the surcharge should not affect the majority of people moving in the conventional way, namely selling a home and buying a new home and moving on the same day. This applies no matter how many properties they may own in addition to their main home."

              So it looks like providing I sell my French home which is my main residence and then move into one of my BTL's and then have that as my main residence, when I decide to sell it, even though I have another BTL, I won't be liable to the extra 3% as I am replacing my main residence......Example given by Wards solicitors below

              Ms A owns both a main residence and a second home. She sells her main residence and purchases a new one. Although she has two properties at the end of the day of the transaction, she has replaced her main residence so the higher rates will not apply.

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