• SDLT On A Second Home

    By Guest on 03rd Jan 2017

    Hi

    I own a poropert with my brother that has been let for a number of years. He has recent bought a property and moved into it from his local authority rented house. He was charged the additional SDLT as they deemed it a 2nd home despite the fact that he did not live in it and his main residence was rented accommodation.
    As I understand it, if we sell the house withing 36 months, he can reclaim the SDLT. If I re-mortgage on my own and he transfers the deeds to be in my name only, does that achieve the same thing?

  • 1 Answers

    By Guest on 01/03/2017

    What you are proposing wouldn't work. The right to recover the extra duty only arises if a person sells a property that was his/her main residence within 3 years of buying a new main residence. The point is to protect people who, for example, have to move to another part of the country and so buy a new home but don't have time to sell their existing one, so they replace their main residence just in the wrong order. In your situation, the rental property was never your brother's main residence so the property he has bought could not be considered a replacement. I'm afraid there's no getting the extra duty back

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