Higher rates of stamp duty land tax (SDLT) apply on purchases
of second residential properties (worth £40,000 or more), where the original
home has not been sold. Taxpayers can, however, apply for a refund of the
higher element of SDLT on a transaction, where they sell or give away their
previous main home within three years of buying the new property.
Taxpayers may also be able to apply for a refund outside of the
three-year period where there are ‘exceptional circumstances’. HMRC’s updated
guidance Higher
rates of stamp duty land tax confirms that ‘exceptional circumstances’
include an extended delay in selling, outside the control of the taxpayer, due
to the impact of coronavirus or an action taken by a public authority
preventing the sale.
Higher rates of stamp duty land tax (SDLT) apply on purchases
of second residential properties (worth £40,000 or more), where the original
home has not been sold. Taxpayers can, however, apply for a refund of the
higher element of SDLT on a transaction, where they sell or give away their
previous main home within three years of buying the new property.
Taxpayers may also be able to apply for a refund outside of the
three-year period where there are ‘exceptional circumstances’. HMRC’s updated
guidance Higher
rates of stamp duty land tax confirms that ‘exceptional circumstances’
include an extended delay in selling, outside the control of the taxpayer, due
to the impact of coronavirus or an action taken by a public authority
preventing the sale.
