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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11681
Experience:  30 years as a practising solicitor.
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We intend a property and I am not sure the the new stamp duty

Customer Question

We intend a property and I am not sure the the new stamp duty would classify this as a second home. I move to a new job in England from Scotland and bought a second smaller property in Feb 2014 while my family was in my main home in Scotland. We then sold our main property in Scotland in Nov 2015 and we are about to buy another property in England which more expensive than our second smaller property.(similar in price to our main home in Scotland) We have also recently applied for a buy to let on this second property. We are unlikely to finish exchanging before April 1st and wonder if this main property can still be classified as a second property considering the significant stamp duty price differences and it will be our main home.
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
If you are replacing your only or main residence the new tax won't apply. From your narrative I take from that the smaller property in England is a buy to let and you're replacing your main property with another. The new tax won't apply. I hope that helps. Please leave a positive rating so that I am credited for my time.
Expert:  JGM replied 1 year ago.
Let me know if I can help you further with this. Can you also remember to leave a positive feedback on the system so that the site credits me for my time. Thanks for using JustAnswer.