Second Home Stamp Duty

[Doofus]

Having done zero research into this, what happens if you are buying a house, which will be your only home in the UK, but you haven't sold your old house first?

[anonymous-user]

Pistonheads, the home of people too lazy to use Google.

[Sir Bagalot]

Doofus said:

Having done zero research into this, what happens if you are buying a house, which will be your only home in the UK, but you haven't sold your old house first?

Then you pay an extra 3% in stamp duty.

Not all is lost, because if you sell the old place within 3 years then you can claim the extra 3% back

[Doofus]

Sir Bagalot said:

Then you pay an extra 3% in stamp duty.

Not all is lost, because if you sell the old place within 3 years then you can claim the extra 3% back

Kind of what I suspected, thanks.

[Beni997]

Has anybody reclaimed the higher rate stamp duty back after selling their original home, leaving them with one sole residence? If so how long did it take to get a refund?

[vr6chris]

Beni997 said:

Has anybody reclaimed the higher rate stamp duty back after selling their original home, leaving them with one sole residence? If so how long did it take to get a refund?

I did last year. I already owned a buy-to-let property and was also buying a house with my wife (our first). Because of this additional stamp duty i was forced to sell the BTL as it increased our tax by £9150. Due to delays selling the BTL and not wanting to lose our new house we ended up paying the additional which was paid when completing on the new house at the end of September. The BTL sold end of October so i sent the refund forms off straight away. Got a cheque in the post for the full amount 6 weeks later.

Initially i was concerned handing over so much money with no guarantee we would get it back, but in the end it was no hassle.

[PixelpeepS3]

MercScot said:

Pistonheads, the home of people too lazy to use Google.

.... and people who go through the effort of replying to the OP with something sarcastic rather than help them out.

the answers to pretty much every thread created on PH would throw up countless (and varying) results on google which is why people tend to 'trust' responses from (relatively) like minded people.