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I'm buying first home but rent 2 flats out - stamp duty?

I have 2 flats (mortgage in my name) but they're in a trust which are rented out. So they are part of a property business. I rent a flat as a home. I want to buy one as a home. Will I still have to pay extra stamp duty when I buy a home to live in in London (the rental properties are in Scotland). Thanks.

Asked on Feb 12 2016, General in London | Report content

Answers (1)

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  • The final details will not be set until the Budget in mid-March, but the story so far is that the additional SDLT will not apply if the property you buy is to be your Principle Private Residence and you either do not own or have sold your present PPR. So provided you can prove that the rented flat is your PPR such as by that being where you are registerd to vote, where they send your tax return and bank statement etc then it should escape the additional tax.

    Web reference:

    Answered on Feb 15 2016, Report content

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