SDLT surcharge
Discussion
As it relates only to residential properties, I'm almost certain it doesn't...
https://www.gov.uk/government/publications/stamp-d...
https://www.gov.uk/government/publications/stamp-d...
It's probably a bit more complicated than that. Purchase of land would normally be outside the additional charge as the charge relates to residential properties only. And there is a whole raft of tax law and tax cases surrounding what is meant by "residential property".
If the land being purchased already has planning permission for a residential dwelling, then I would expect that it will suffer the additional 3%. If it is a piece of land with no planning permission, then it won't.
I don't know what would happen if land was bought with no planning permission but which later did get planning permission for a dwelling.
If the land being purchased already has planning permission for a residential dwelling, then I would expect that it will suffer the additional 3%. If it is a piece of land with no planning permission, then it won't.
I don't know what would happen if land was bought with no planning permission but which later did get planning permission for a dwelling.
Eric Mc said:
It's probably a bit more complicated than that. Purchase of land would normally be outside the additional charge as the charge relates to residential properties only. And there is a whole raft of tax law and tax cases surrounding what is meant by "residential property".
If the land being purchased already has planning permission for a residential dwelling, then I would expect that it will suffer the additional 3%. If it is a piece of land with no planning permission, then it won't.
I don't know what would happen if land was bought with no planning permission but which later did get planning permission for a dwelling.
The land has been received via inheritance and it has no dwellings nor does it have planning. I was just a little concerned that due to my name being on it I would then be hit with the 3% surcharge in the future when I move house.If the land being purchased already has planning permission for a residential dwelling, then I would expect that it will suffer the additional 3%. If it is a piece of land with no planning permission, then it won't.
I don't know what would happen if land was bought with no planning permission but which later did get planning permission for a dwelling.
RanchoGrande said:
The land has been received via inheritance and it has no dwellings nor does it have planning. I was just a little concerned that due to my name being on it I would then be hit with the 3% surcharge in the future when I move house.
No, because you'd be replacing your main residence.Sheepshanks said:
RanchoGrande said:
The land has been received via inheritance and it has no dwellings nor does it have planning. I was just a little concerned that due to my name being on it I would then be hit with the 3% surcharge in the future when I move house.
No, because you'd be replacing your main residence.Jockman said:
Yes. It's a key piece of info that you already have the land AND a primary residence. It doesn't matter if you have 100 bits of land and 200 BTLs. Changing your primary residence does not attract enhanced rate sdlt.
Ah, thanks. I hadn't looked at it like that, I just assumed that you'd be hit with the surcharge if you owned anything else. What would happen if you owned a buy to let but you lived in rented accommodation? Would you be hit with the surcharge if you bought a home as a main residence? RanchoGrande said:
Ah, thanks. I hadn't looked at it like that, I just assumed that you'd be hit with the surcharge if you owned anything else. What would happen if you owned a buy to let but you lived in rented accommodation? Would you be hit with the surcharge if you bought a home as a main residence?
Yes. Because you would own more properties in total after the purchase....Gassing Station | Finance | Top of Page | What's New | My Stuff