BTL in Ireland but first main residence in the UK?
9:05 AM, 16th April 2019, 7 years ago
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Hi all, I am wondering if you can help me clarify if i am exempt of the 3% surcharge on my first main residence in the UK. I currently consider my rental property as my main residence for past 3 years in the UK since moving from Australia.
I own a BTL in my home country Dublin which is valued at over 40k.
Please can someone confirm if I am not selling a main residence, but own a BTL in Dublin then will I pay the additional 3% surcharge or do I have any options.
Regards
Conor
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9:13 AM, 16th April 2019, About 7 years ago
Hi Conor,
Please see HMRC >> https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property
“You must pay the higher SDLT rates when you buy a residential property (or a part of one) for £40,000 or more, if all the following apply:
it will not be the only residential property worth £40,000 or more that you own (or part own) anywhere in the world
you have not sold or given away your previous main home
no one else has a lease on it which has more than 21 years left to run”
So yes you will I believe have to pay the Stamp Surcharge unless you sell your property in Ireland.