Second home stamp duty - Did we make a financial mistake in getting married?

[Scarylady]

When me and DH met we both owned similar value properties, although mine was a flat and DH’s a house.

When we moved in together we moved into the house and rented out the flat.

We got married earlier this year and are now planning to sell the house and buy somewhere bigger. Our plan was for dh to buy the house in his name and the flat remains in my name. We’ve just been advised that even though we aren’t buying together we will still have to pay second home stamp duty as we are married. Does anyone know if this is correct?

There was a similar thread very recently (although I think the DH was a first time buyer). General consensus was yes, properties are a joint marital asset and therefore a property owned by one spouse counts as a second home.

Yes. This is why we bought our house in my husbands name before we got married as I already owned a house.

We were in a similar position and were advised that because we were selling the home we lived in to buy another place to live in we weren't required to pay the second house stamp duty (had we sold the property we were letting out or been buying a property to let out we would have had to pay it regardless of whose name it was in).

Obviously don't take my word for it but here's a starting point; look at the section on When the higher rates do not apply: People www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

If you are replacing your main residence (I.e. selling the house you live in and buying a new house to live in and ending up with the same number of properties that you stated with) you won’t need to pay the second home stamp.

@UnaOfStormhold thanks for that link. Very useful. Does seem that we won’t have to pay as it is our home we are selling and buying.