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Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
On the purchase of your new property you will be charged the additional SDLT levy of 3% on top of the standard charge. If you sell your other property within three years you can recover the 3% surcharge. The Stamp Office say this will be refunded within 15 days after the receipt of necessary documantation. You claim on the following form:
I do hope that you have found my reply of assistance.
Yes, the CGT exception for dependent relatives was removed by ***** ***** many years ago to help fill the Treasury coffers.
Unfortunately as you already own one residential property, albeit the one occupied by your mother, the 3% surcharge will still apply, but could be recovered if Mother's home is sold within the three year time period.
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