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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4810
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If I am buying my first home in the UK but I own a property

Customer Question

Hi - if I am buying my first home in the UK but I own a property abroad will I be subject to the stamp duty surcharge? I don't live in the property abroad.
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. The Stamp Duty Calculator has the following pithy advice: 'Anyone who purchases a property in addition to their main residence is liable for the surcharge even if the property is not let out.' As the property abroad in which you do not live is not your main residence then I am of the opinion that the surcharge does not apply. I do hope that my reply has been of assistance.
Customer: replied 1 year ago.
Hi - does it matter if I owned the house abroad first and then bought my house in the uk? The advice online is very confusing.
Expert:  bigduckontax replied 1 year ago.
I agree, but this house abroad you do not live in and thus cannot be classified as your main residence. I would be inclined to emulate Brer Fox 'For he lay low and say nuffin!'
Customer: replied 1 year ago.
True - but would it not be fraud not to declare?
Expert:  bigduckontax replied 1 year ago.
I am an accountant not a lawyer, but from the tenor of advice available on the net you are not liable for the surcharge.
Customer: replied 1 year ago.
Thank you
Expert:  bigduckontax replied 1 year ago.
Delighted to have been of assistance. Please be so kind as to rate me before you leave the Just Answer site.