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Category: Property Law
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I own a residential property in Italy, which my parents

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I own a residential property in Italy, which my parents purchased under my name years ago, even though it has never been my residence. Since I am a UK resident, I am now looking into purchasing a property in London that would become my main residence. I would like to understand what impact the property I own in Italy would have to the SDLT that I will be due to pay upon purchase. My parents and I are looking into ways I could donate the Italian property to them, so that I would no longer be considered its owner.
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No
JA: Where is the residence located?
Customer: What residence?
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no

Good afternoon, thank you for contacting Just Answer my name is ***** ***** I am a solicitor and I will be assisting you today.

You will not be able to qualify as a first time buyer and therefore benefit from the first time buyer SDLT exemption as to qualify you must have never owned a home before anywhere in the world.

In addition, if you own still own the property in Italy when you purchase your new property (a new main residence) you would have effectively purchased a second home and you will need to pay the additional stamp duty charge. However, you can reclaim stamp duty on second homes, if you sell your original home within three years.

Hopefully I have answered your question in a straightforward manner however if anything remains unclear I will be happy to assist you further.

Customer: replied 15 days ago.
Hi Matthew, thanks for your reply, that's very helpful. I thought that this option could only be applied to previous residences. Would it also be ok with properties abroad. As I wrote before, i am looking into donating the Italian house to my parents as soon as possible. If that's the case, would i also be able to reclaim stamp duty on second homes or would it be better to try to donate it before I purchase my house here?

It may be quicker and easier to donate the Italian property first, however it is still possible to claim the refund if you sell/dispose of the property in Italy as long as you do within 12 months of the property being disposed of.

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