SDLT penalising landlords taking the plunge to move out from parents homes!

SDLT penalising landlords taking the plunge to move out from parents homes!

11:45 AM, 8th June 2017, About 5 years ago 12

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After a lot of research I have unfortunately learned that the new SDLT rates with a 3% surcharge will apply to myself.

I am currently a landlord, but still living with parents.

I am in the process of buying my first main residential property however, as I am not selling any home ‘disposing’ and only moving out of parents house I am being hit with these higher rates.

The government is penalising people for moving out of parents homes! I have came to accept this, but what I am interested in is whether I was to sell my only BTL within 3 years could I claim the tax back or not as I have never technically lived at this property, but it was my only property?

Also in the future if I keep my BTL, but sell my new main residence that I am paying he tax on, and buy a new main residence, will I have to pay the higher rates again or will I be exempt as I am technically ‘replacing my main residence’ or is this relief only for a period of time?




Neil Patterson View Profile

10:38 AM, 29th November 2017, About 5 years ago

Interesting question and you have 3 years moving forward in which to sell a main residence and get a refund, but there is no mention of backdating the main residence so I am guessing especially as you own 3 properties that HMRC will try to wriggle out of a refund, but it may be worth checking back with your solicitor.

Jasvinder Singh

3:21 AM, 21st June 2022, About A week ago

Any updates on this?

I am in the same boat?

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