Stamp Duty for a 'fixer upper'

[topless360]

With the new 3% stamp duty coming in for BTL's and Second homes, I'm wondering if this will also effect those buying a property to renovate and sell on?

Is there any way around it if you don't plan on letting or using it as a second home?

[worsy]

You'll have to wait for the exact legislation wording, however IIRC it stipulated all non commercial property with the exception of primary residence. The olive branch to developers excluded those purchased from a corporate (read limited) company.

Don't think it will help you I'm afraid.

[HotJambalaya]

Nope, get buying...

Their 'concession' was that at least you'll be able to include that stamp duty in the purchase price in the cgt calculation.

[paulrockliffe]

It's not just fixer uppers is it, if you get a bridging loan while you sell your house it sounds like you'll be whacked too.

[numtumfutunch]

paulrockliffe said:

It's not just fixer uppers is it, if you get a bridging loan while you sell your house it sounds like you'll be whacked too.

Yes I heard that being heavily discussed on the radio
Consensus that you MAY be able to claim it back but totally undefined as to how long a bridge period was acceptable

It sounds like something rushed through for a soundbite with the nitty gritty and small print to follow at a later date