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Additional 3% Stamp duty

I own a few houses with mortgages and currently let them all out - have done for over 5 years. I live in my wife's house and have done since the year before we got married. Her house has been my residence for a full 5 years. We now want to sell her house and purchase a joint property simultaneously. Will we be hit with 3%? I am on the electoral roll at her house, have bank accounts all registered here, am registered as a landlord and with HMRC at her house. Can anyone clarify because we are thinking of doing this in the next few weeks. Thanks in advance.

Asked on Feb 23 2016, General in London | Report content

Answers (1)

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  • The details will not be finalised until the Budget in March. But according to the consultation document if you are selling your main residence and buying a replacement main residence, the extra 3% will not apply even if you own another property. From your description of your circumstances, this appears to be the case.

    Web reference: http://www.gov.uk/government/consultations/consultation-o...

    Answered on Feb 25 2016, Report content

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