The Lemon Fool

I have found a house i want to buy.

My current home, my only house, has not yet been sold but is on the market. What is the situation re paying/reclaiming extra 2nd house stamp duty if I conclude the new house purchase before selling the current home.

You pay the second home SDLT when you buy. You must file a claim within 12 months of purchase. Then, if you sell within 3 years of purchase you get the extra SDLT back when you sell the first property.

https://www.gov.uk/government/publicati ... properties

Gryff

As Gryff says, pretty simple.

You need the SDLT payment reference for the purchase, which your solicitor should provide, and it is a very simple 5-10 min job online. Alternatively I know a London Solicitor who's firm does it for a £1500 + VAT flat fee, of which she sees buggerall%

Paul

In case it's relevant to anyone, it's different in Scotland.
https://revenue.scot/taxes/land-buildings-transaction-tax

Adrian

AJC5001 wrote:In case it's relevant to anyone, it's different in Scotland.
https://revenue.scot/taxes/land-buildings-transaction-tax

Adrian

I see they've changed the ADS overlap on main residence up to 36 months - i.e. the same as England. Last time I looked it was only 18 months.