Stamp Duty for Armed Forces serving overseas

by Readers Question

10:10 AM, 11th September 2017
About A year ago

Stamp Duty for Armed Forces serving overseas

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Stamp Duty for Armed Forces serving overseas

I currently own a rental property in the NE that I’m looking to sell. I am a serving member of the UK armed forces and posted overseas.

The new property that I’m looking to buy would, in all likelihood, be rented (initially) until I’m posted back to the UK.

What stamp duty would the HMRC expect me to pay ?

Although I intend to live in the property (at some point when my military career allows) I will be selling one buy-to-let and buying another.

Can I convince them that I should pay standard rate ?

Many thanks

Jack



Comments

Neil Patterson

10:20 AM, 11th September 2017
About A year ago

Hi Jack,
I know there are sometimes different rules for armed forces, but I can't find any exceptions relating to the 3% stamp duty surcharge.
Hopefully a reader is more familiar with this area, but if you just applied the rules as if you were a civilian then yes they would charge the extra 3%.

Monty Bodkin

16:14 PM, 11th September 2017
About A year ago

I don't think that is correct Neil.

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

Higher rates for additional properties
You’ll usually have to pay 3% on top of the normal SDLT rates if buying a new residential property means you’ll own more than one.

Monty Bodkin

16:17 PM, 11th September 2017
About A year ago

Jack,
I'm assuming you know about the CGT exemption for living in serviced accommodation?


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