Second home tax advice?

[Hemberley]

I wasn't sure whether to post here or in the Money topic but here goes....

DH and I are selling our current home and using the proceeds to purchase two properties. We will have the less expensive of the two new places as the "second home", but what happens if we complete on the more expensive property AFTER the cheaper one? Would the more expensive one then become the second home, and therefore subject to the extra 3% SDLT? If anyone has any knowledge I would be very grateful - can't find info on timings like this on HMRC website.

FAIRLY low income. That's compared to people who have the odd £1k hanging around to pay for something that should cost £150 for example. We aren't low income as on benefits etc. However I think I've received many useful replies and have now arranged professional advice- thank you all.

Were advised by a solicitor that if you are married you will have to pay tax on the second home you cannot have one in your name and one in your partners to avoid paying the tax. But if the cheaper one completes first and you pay the higher tax on the other one and then make the more expensive one your main residence then you have two years to claim in back.

If you can afford two homes, you can afford an hour with a tax adviser. It would be potentially be more costly to follow duff advice from people on the internet who are not qualified to give it.

@Clymene

If you can afford two homes, you can afford an hour with a tax adviser. It would be potentially be more costly to follow duff advice from people on the internet who are not qualified to give it.

Yes and as I've said we are having an hour with a tax advisor. I don't think this is going any further

Good stuff