SDLT - holiday home 1/2 share

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    SDLT - holiday home 1/2 share

    Hi all- I'm in the process of selling my primary residency abroad to move to the UK. In addition to my primary residence, I have a half share with my sister in a holiday home gifted to us by our parents some years ago. The holiday home at the date of transfer was worth about £70,000 so my share of that was £35,000. It would have increased in value since then slightly. Do you know if the 3% surcharge is applicable in this situation? Thanks

    #2
    Its the buyer which pay the sdlt before registration at Land Registry. If you are selling, its not your problem.

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      #3
      Sorry, to clarify, I'm in the process of selling my primary residency abroad to buy in the UK. I didn't make that clear.

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        #4
        The 3% extra sdlt is payable if your already have a property held under your name. I think the tax man doesn't care if its only a holiday home but you can ask the tax office to explain.

        Home owners moving to another property and not yet sold existing home , will pay the extra 3% sdlt but can reclaim the 3% extra sdlt within 3 years of purchase if old main residence is sold. But you should check with a conveyancing law firm

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