Main residence 3% surcharge.
We have one house - our main residence. We have decided to move and have found a house which I am buying with cash. We have put our present main residence up for sale, but we will complete the purchase of the second house before we are able to sell our original, first home. So in theory, we have 2 homes although the new home will become our main residence. Do we have to pay the 3% surcharge? If not, is there a time limit within which we must sell the original main residence? If that's the case and we do have to pay the 3%, do we get that 3% rebated if go on to sell the house within 18 months? And in this instance, how long will it take the cash back from HMRC? Regards, William.
Web reference: http://www.gov.uk/government/consultations/consultation-o...Answered on Mar 1 2016, Report content
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