Extra 3% SDLT exemption/refund on probate properties?Make Text Bigger
Hello peers, My question is regarding exemptions to the extra 3% SDLT (Stamp Duty Land Tax) currently payable on investment properties.
Is my understanding correct that the SDLT paid on probate properties is eligible for a refund if they’re turned around and sold again within the year? I appreciate your time!
Editors Notes: HMRC >> https://www.gov.uk/guidance/stamp-duty-land-tax-relief-for-land-or-property-transactions#building-company-buys-an-individuals-home
Stamp Duty Land Tax relief for land or property transactions
Building company buys an individual’s home
If a building company or property trader buys a home from someone who is buying a new home from them, the property bought by the house builder or property trader is exempt from SDLT if certain conditions are met.
The area of land that the building company or property trader buys along with the old home must not go above certain limits (normally 0.5 hectares) and the person selling the home must:
- have lived in the property as their main or only home at some time during the 2 years before the building company or property trader bought it
- buy a new home from the house building company
- intend to live in the new property as their main or only home
This relief does not apply to individuals who swap houses.
To claim this relief enter code ‘08’ in the SDLT return.
Find out more in the HMRC SDLT manual.
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