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I'm buying a house for £205k & have been told that as I own

Customer Question

I'm buying a house for £205k & have been told that as I own an apartment in Portugal I'm liable for a higher rate of stamp duty tax (£7,750) is this correct?
Submitted: 4 months ago.
Category: Tax
Expert:  Sam replied 4 months ago.

Hi

Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.

Yes I am afraid this is correct - its the fact that own a property already that determines the additional surcharge srising.

See guidance here from HMRC

https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

You can see this advsied

"You’ll also pay the higher rate if you buy a residential property in England, Wales or Northern Ireland and you already own one outside these countries."

Sorry the news is not more favourable, please do let me know if I can assist further or if you have all that you need, it would be appreciated if you could rate me for the level of service I have provided (or click accept) as this esnures Just Answer credit me for my time

Thanks

Sam

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