Simon Howley considers the differing outcomes that subtle differences in circumstances can produce regarding the 3% higher-rate stamp duty land tax surcharge.
This article focuses on practical examples instead of reciting chapter and verse on what the legislation states to highlight that obtaining accurate facts about each case is essential to providing the correct advice regarding the higher rate of surcharge for stamp duty land tax (SDLT) purposes.
General background
If buying a new residential property means owning more than one, you’ll usually have to pay 3% on top ofâ¯SDLTâ¯rates. You will not pay the extra 3%â¯SDLTâ¯if the property you’re buying is replacing your primary residence and that has already been sold. You'll have to pay higher rates if you have not sold your primary residence the day you complete your new purchase. This is because you
