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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I moved to the UK 11 years ago and is in the process of

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I moved to the UK 11 years ago and is in the process of buying my first property in the UK. I own a flat in South Africa that I use when I go back to visit.I am buying my UK property that will be my main residence (I rented for 11 years) for £299 500.Do I need to pay the 3% surcharge on stamp duty because I own a flat in South Africa? If so, would it be possible to reclaim if I sell the flat in SA within the next 3 years?Many thanks!

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Many thanks

Thank you for your question.

If the property in South Africa is deemed your main residence and you don't own a property in the UK, then you would be able to reclaim the 3% extra stamp duty provided you sell the property in South Africa within 3 years of buying your first home in the UK.

You have stated you live in your flat in South Africa when you visit that country.

I hope this is helpful and answers your question.

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Customer: replied 4 months ago.
Many thanks. I do use the property in SA when I'm there but will that count as my main residence if I'm renting in the UK?If I sell the property in SA eithin the next 3 years and apply for a reclaim, can I buy another property in SA after I received my reclaim?

Thank you for your reply.

As you don't own a property in the UK and owned one in South Africa which was your main residence before moving to the UK, you would be able to reclaim the extra 3% stamp duty on sale of the flat within the three year time limit.

The extra 3% only applies to second home bought in the UK. The rules don't cover purchase of second home abroad.

I hope this is helpful and answers your question.

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