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Original poster

Second property

7 replies

NeedToGetOuttaHere · 12/02/2021 11:59

Hi I couldn’t find a property section so am posting here. I am currently in the process of buying a second property and will pay the higher rate of stamp duty. If I was to sell my current home in a few years and buy a different property would this be classed as second home as well.

OP posts:
Dinosauraddict · 12/02/2021 15:02

Firstly there is a Property/DIY board. Secondly if you sell your main residence to buy a new main residence then no you don't have to pay the additional SDLT rates. If you buy the new main residence before you sell the old main residence, then you can pay but later claim back the extra SDLT.

Original poster
NeedToGetOuttaHere · 12/02/2021 15:11

Thank you and I’ll look again for the property/DIY board.

OP posts:
Original poster
NeedToGetOuttaHere · 12/02/2021 15:11

I’ve found it!

OP posts:
Dinosauraddict · 12/02/2021 15:39

Well done. I'm a regular on there - you'll find a lot of us are very happy to help with any house-y questions Grin

bigbella26 · 14/02/2021 22:33

Firstly there is a Property/DIY board. Secondly if you sell your main residence to buy a new main residence then no you don't have to pay the additional SDLT rates. If you buy the new main residence before you sell the old main residence, then you can pay but later claim back the extra SDLT.

Is this really the case? I moved house two years ago and own a rental property. I had to pay the extra stamp duty. Really I interested in case I can claim back the £10k extra I had to pay. Any links you can direct me to as everything I look at seems to say I pay it?

Dinosauraddict · 15/02/2021 06:39

Yes if the old and the new are both main residences then you can reclaim the SDLT as long as the old main residence has been sold within 3 years of the purchase of the new main residence. (There are some extensions atm for things like covid.) @bigbella26 you may have left it too late though as dependent on when house was sold/purchased I think you have to notify HMRC within 12 months of the sale of the old main residence.

Here's the application for the refund page of Gov.uk but all the rules are on there and easy to find: www.gov.uk/government/publications/stamp-duty-land-tax-apply-for-a-repayment-of-the-higher-rates-for-additional-properties

bigbella26 · 15/02/2021 22:06

@Dinosauraddict Thanks. I shall look into it at least.

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