Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
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.
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