Timeline for UK - Do I pay higher Stamp Duty for transfer of equity on main home if I have Buy To Let property?
Current License: CC BY-SA 4.0
17 events
| when toggle format | what | by | license | comment | |
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| Sep 13, 2022 at 16:26 | history | bounty ended | christiaantober | ||
| Sep 13, 2022 at 16:26 | vote | accept | christiaantober | ||
| Sep 12, 2022 at 23:38 | comment | added | Ganesh Sittampalam♦ | @christiaantober yes, agreed. Seems it's all a lot more complicated (or at least different) than I thought! | |
| Sep 12, 2022 at 23:38 | history | edited | Ganesh Sittampalam♦ | CC BY-SA 4.0 |
corrected my answer in the light of comments from the OP
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| Sep 10, 2022 at 18:59 | comment | added | christiaantober | I think the exception also applies to the first scenario. The same link says: "The higher rates do not apply to certain people, property and transactions. Do not include anyone who will both: (a) use your new property as their main home (b) have sold or given away the last main home they owned before you buy your new home (or on the same day)" | |
| Sep 9, 2022 at 21:49 | comment | added | Ganesh Sittampalam♦ | @christiaantober yes, I think you're right about the exception. | |
| Sep 9, 2022 at 21:49 | history | edited | Ganesh Sittampalam♦ | CC BY-SA 4.0 |
added 191 characters in body
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| Sep 9, 2022 at 16:21 | comment | added | christiaantober | The link above says: "When the rates do not apply: If you want to increase the amount of a property that you already own, you do not have to pay the higher rates when all the following apply: -you already own 25% or more -the dwelling has been your only or main home for the previous 3 years -if you’re extending a lease, your lease still has 21 years or more left to run | |
| Sep 9, 2022 at 16:19 | comment | added | christiaantober | So your definition of residential is correct. However there seems to be an exception to the rule here: gov.uk/guidance/… | |
| Sep 9, 2022 at 16:06 | comment | added | christiaantober | I think this link gives a good definition of residential: gov.uk/government/publications/… | |
| Sep 9, 2022 at 10:49 | comment | added | Ganesh Sittampalam♦ | @christiaantober I added a reference to the HMRC manuals (which in turn refer to the legislation). The first link explicitly mentions "buy-to-let". | |
| Sep 9, 2022 at 10:48 | history | edited | Ganesh Sittampalam♦ | CC BY-SA 4.0 |
citations about residential property
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| Sep 9, 2022 at 9:50 | comment | added | christiaantober | Can you provide a citation for this please? Because I have a residential mortgage, and a BTL mortgage. The residential mortgage means that I must live there myself. So the meaning of residential is not clearcut here. | |
| Sep 8, 2022 at 8:56 | history | edited | Ganesh Sittampalam♦ | CC BY-SA 4.0 |
added 215 characters in body
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| Sep 8, 2022 at 8:54 | comment | added | Ganesh Sittampalam♦ | @christiaantober "Residential" means that someone can live there, as opposed to an office/factory/shop etc ("Commercial"). It doesn't mean that you are living there. If it's a house that you are letting out to someone else then it's residential. | |
| Sep 7, 2022 at 20:58 | comment | added | christiaantober | Thanks for the link! However, the first bullet point on that page does not apply to me: "it will not be the only residential property worth £40,000 or more that you own (or part own) anywhere in the world", since it is the only residential property that I own. The other property is Buy-To-Let. | |
| Sep 5, 2022 at 21:13 | history | answered | Ganesh Sittampalam♦ | CC BY-SA 4.0 |