11:19 AM, 4th December 2020, About 2 years ago 7
I owned 2 properties – 1 that I rented out, and lived in my other property as my main residence. I sold my main residence on 29th May 2019, bought 2 more BTL properties and I am living in a static caravan.
I’m thinking about buying a new main residence, but I don’t think it’s quite the right time now. I’m concerned that I’ll miss the grace period for stamp duty on main residences, and will end up paying the additional 3% because I have more than one property. I thought there was a period of 24 months that allowed you to buy a main residence, but someone told me that it was 36 months, which would take the pressure off.
I called my solicitor who said it was all very complicated and said I should call HMRC. Can anyone advise how long I’ve got before I have to pay the higher stamp duty please, or should I call HMRC?