Stamp Duty!

[911Alan]

Gents,

I currently own a rental property alongside my home, so 2 properties in total. Both have been owned for a good few years now.
I am looking to move home soon, so will be selling my home to purchase another. I was speaking to the agent who manages my rental property and he seems to think that I will have to pay the Stamp Duty rate for additional properties.
However, from my understanding after reading the HMRC site as I will be replacing my main residence I don't believe I should have to pay the higher rate.

HMRC site quote: 'If you already have 2 or more properties, and you sell your main residence, you won’t have to pay the higher rate if you buy a new main residence within 3 years.'

Can anyone clear this up? Who's right?

Edited by 911Alan on Tuesday 26th July 19:18

[911Alan]

Just what I thought. He was so adamant too!

[911Alan]

My Parents Solicitor seems to misunderstand the rules also, as he was under the impression I would have to pay the additional stamp duty?

I only have 1 BTL which is jointly owned between me and my sisters, other than that I only own the house I currently live in

Anyway I guess I will find out for sure soon as I have just had an offer accepted on a new home and mine goes on the market Monday, so I will be needing to instruct my own Solicitor soon anyway!