Stamp duty question

[JapanRed]

Hi all,

Me and my wife have a residential property which we bought in 2013 and have lived in ever since. I also have a BTL in my name which I bought in 2009 and lived in until 2011. It’s been rented out ever since.

If we moved house (selling our residential home) would we have to pay the extra stamp duty? In theory it’s a second home but it would always be our primary residence?

Cheers.

[Croutons]

No. Because you’re replacing a PPR with another one.

Obvs timing an issue, if concurrently selling/ buying, no surcharge at purchase. If buy then sell, surcharge/ reclaim if quick enough.

[JapanRed]

Thanks Croutons. We wouldn’t be selling concurrently. Excuse my ignorance but what’s a PPR?

[2Btoo]

JapanRed said:

PPR?

Principle Private Residence (i.e. your home).

I think if you buy another house to use as PPR you'll have to pay the stamp duty surcharge, but have up to 2 years to sell the old one and reclaim that surcharge. Leaving it more than 2 years means you can't reclaim the surcharge.

[JapanRed]

2Btoo said:

JapanRed said:

PPR?

Principle Private Residence (i.e. your home).

I think if you buy another house to use as PPR you'll have to pay the stamp duty surcharge, but have up to 2 years to sell the old one and reclaim that surcharge. Leaving it more than 2 years means you can't reclaim the surcharge.

Thanks very much. Exactly the answer I was looking for. Cheers.