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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I own a property in Edinburgh which was my main place of

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I own a property in Edinburgh which was my main place of residence up until Sept 2013. I have owned no other properties over the last 3 years and have let the flat in Edinburgh. We have it on the market currently but are about to complete on a house in Bristol. We are currently liable for the higher stamp duty as the house in Bristol is being classed as a 2nd home. I have been doing some reading and there seems to be 2 options. If we sell the property in Edinburgh before Sept it will have been our main place of residence within 3 years, so as such we can reclaim the increased (3%) rate of stamp duty? And/or we can offset the increased stamp duty against our Capital Gains Tax on the sale of the premises in Edinburgh when it goes through? Any advice would be appreciated.


Take a look here and here. The rules have changed slightly since the original announcement in that the 18 month grace period is now 36 months.

If you sell your Edinburgh home within three years of moving out having bought another property to live in in the interim, you can claim a refund of the additional stamp duty by completing the form here. Regular stamp duty is added to the purchase price of a property along with legal fees, survey fees etc. and the same will apply to the additional stamp duty of you aren't eligible to reclaim it.

I hope this helps but let me know if you have any further questions.

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