This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our privacy notice.

Stamp Duty Land Tax - when will I be liable?

Question:

I am going to buy a second property in Birmingham, which will either be extended or refurbished. It will not be a buyto-let, as I will put it up for sale as soon as it’s ready for market. Will I still have to pay the extra 3% stamp duty land tax, or can I claim it back after the sale?

Arthur Weller replies:
In November 2016, the government published a Guidance Note: 'Stamp duty land tax: Higher rates for purchases of additional residential properties'. In Q&A 4 on page 26, it states: 'I, an individual, am a property developer who purchases residential properties, refurbishes and then sells them. Will I be exempt from the higher rates of SDLT on any purchases that I make after 1 April 2016?'. The answer given is: 'No, there are no reliefs or exemptions from the higher rates for property developers.'
 

I am going to buy a second property in Birmingham, which will either be extended or refurbished. It will not be a buyto-let, as I will put it up for sale as soon as it’s ready for market. Will I still have to pay the extra 3% stamp duty

...


This question was first printed in Property Tax Insider in June 2018.