SDLT reclaim?

by Readers Question

15:34 PM, 23rd October 2019
About A year ago

SDLT reclaim?

Make Text Bigger
SDLT reclaim?

I have a question based on the below scenario:

Property A purchased by Mr. X as residential. Mr. X moved away for work and was renting. During this period converted the residential to BTL.

In the meantime found another as residential property B and purchased jointly as Mr. and Mrs. X’s main residence. Paid higher rate SDLT.

Now in the process of disposing of the BTL. In normal circumstances will be eligible for a refund on the higher rate that was paid for property B.

However, Mr. and Mrs. X want to invest for in more properties while the sale of Property A is still underway. They understand they will have to pay higher rate SDLT for the new properties.

Will they still be able to reclaim the higher rate SDLT refund. Is there a way if not individually buy it as an Ltd company and this will help for reclaiming the refund.

Thank you.

Dev


Share this article

Twitter Facebook LinkedIn

Comments

Neil Patterson

15:36 PM, 23rd October 2019
About A year ago

From Mark Alexander:

"Subject the statutory time limits, and if the additional properties were purchased within a Limited Company which pays the higher rate SDLT, the SDLT reclaim on the sale of the former PDH would indeed be valid in my opinion."


Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

OR

BECOME A MEMBER

Welsh temporary lockdown - Is moving home permitted?

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More