Q&As

Will the higher 3 per cent rates of SDLT apply when the owner of a rental property purchases a main residence?

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Published on LexisPSL on 13/11/2017

The following Tax Q&A provides comprehensive and up to date legal information covering:

  • Will the higher 3 per cent rates of SDLT apply when the owner of a rental property purchases a main residence?

Will the higher 3 per cent rates of SDLT apply when the owner of a rental property purchases a main residence?

The higher 3% rates of stamp duty land tax (SDLT) apply to a purchase of a major interest in a single dwelling by an individual, if at the end of the day of purchase, Conditions A–D are met:

  1. Condition A—the chargeable consideration is £40,000 or more

  2. Condition B—the dwelling is not subject to a lease which has more than 21 years to run on the date of purchase

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