To ask how to avoid 2nd home rate stamp duty

[Stampdutywoes]

Hear me out before you attack.

Currently living in rental property after splitting with ex partner. We own the home he is living in jointly.
The landlord of my rental wants to sell and I would like to buy it but the additional 5% stamp duty rate for what would count as a second home is a killer.
Are there any conveyancing solicitors who could advise on how to avoid (not evade) this extra 5%?

You have quite a long period where you can claim a refund as long as the initial house is subsequently sold. I assume he is selling or buying you out in the not too distant future?

You can get it back if you sell the other home or dispose of your interest in it within a certain time frame. The estate agent probably will know more, or check with whoever you're planning to use as conveyancer.

The second home is going to be your primary residence so you may be able to claim back the additional stamp duty if you can prove that you will not be residing at the previous shared home. However can’t your ex buy you out for avoidance of doubt.
The refund pp are referring to is 36 months you can search on the government website all the information is available.

Existing property will not be sold

Is ex buying you out? If not you will continue to have a 2nd home and should pay the extra.

Are you going to remain as co-owner?

If the property you own now won’t be sold, you are buying a second home and therefore would be evading it. Which is very hard to do, because records exist.

Is he refusing to sell, or do you want to maintain an interest in the property?

Then he needs to buy you out or vice versa if you don’t want the financial penalty of a second home

I want to maintain ownership of the existing property and we will buy the new one jointly too. Each live in one property

Well then it will be a second home…?

Well that sounds a bit mad. Why not have one each??

But since you will be buying a 2nd home, you’ll have to pay the 2nd home rate.

Would it work if you gave the estate agent a fake name? There might be rules against this though so check first.

We will just own half of the two properties each though so not really what the law is intended to cover holiday homes or rentals
Just wondered if there is a legal way round paying the extra

Why do you think you should be able to buy a second home and benefit from owning two properties, but not pay the 2nd home rate of stamp duty? Other than not wanting to or not being able to afford it?

And why do you think a conveyancing solicitor should advise you for free?

why?

No, that’s definitely illegal!

the law is intended to make sure people dont get the benefits of a residential property relief twice. which is what you sound like you're trying to do?

So you are asking for advice on how to avoid paying a tax you are legally obliged to pay.

i don’t think stamp duty should exist and our whole house buying process in the UK is absurdly expensive and slow. But that’s how it is right now and our current tax laws apply to you too.

You can avoid the second home tax if you each only own one of the homes, as you have been told.

the only way around it is for you both to have one property each

No, the law is intended to cover people affluent enough to afford two properties, and that is you and your partner. It’s a form of wealth tax. Stop thinking you are in some way ‘not like the other second home owners’ .

You reckon fraud might be against the rules, huh?

So you will be the owner of 2 properties and you should pay. Are you prepared to lie to avoid it?

You have a weird situation. Most ex want a clean split, not buy a second property together.

As such you need to talk to a financial specialist, not some randoms on Mumsnet.

Probably you will have to pay the extra tax though.

Why don't you just sort it all out and have one property each so you're not anchored to each other moving forward? Unless you don't want him to be your ex?

@Stampdutywoes why do you want to remain partial owner on the first property and not allow the ex partner to buy you out? Seems odd and then to add them as joint owner on the second property when you've split up makes no sense. What is the reasoning behind it?