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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5724
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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I need an advice, Birmingham, UK, I want property stamp duty

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Hi I need an advice
JA: Where are you? It matters because laws vary by location.
Customer: Birmingham
JA: What steps have you taken so far?
Customer: UK
JA: Anything else you want the lawyer to know before I connect you?
Customer: I want property stamp duty advice
Customer: replied 6 days ago.
My wife is buying her first property but i already own a property. 1. Would she be considered first time buyer if the property is in her name and she pays the mortgage? 2. would the HMRC consider my property as well to calculate the stamp duty?

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Thank you for your question..

Your wife would not be considered a first time buyer as you already own a property that you both live in. she would pay extra 3% stamp duty on this property. Your property value is not taken into account when calculating the stamp duty payable on property your wife intends buying.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 6 days ago.
She is going to live in that property on her own so would she still have to pay

Thank you for your reply.

She may be living in that property on her own

Married couples and civil partners are treated as living together, and therefore as one unit, unless they are separated:

- under a court order, or

- by a formal deed of separation executed under seal.

I hope this is helpful and answers your question.

Customer: replied 6 days ago.
would we get the 3% stamp duty back if i sell the current property after a year

Thank you for your reply.

You would claim a refund if you sell the current property after a year as you would make the other property your main residence then.

More information on this can be found here - look under "If you’re replacing your main residence"

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

I hope this is helpful and answers your question.

If there are no more issues, I will appreciate if you would kindly rate my service positively/accept the service I have provided to ensure I get credited for it by Just Answer.

Customer: replied 6 days ago.
My wife is on my spouse visa but we married abroad as she is not a British citizen yet and have not got indefinite leave to remain yet.

Thank you for your reply.

Citizenship and status of residence makes no difference for SDLT purposes.

You are married couple and only one property can be treated as main residence as any point.

I hope this is helpful and answers your question.

You are married couple and only one property can be treated as main residence at any one point.

The fact your wife is on spouse visit makes no difference.

I hope this helps.

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I thank you for accepting my answer.

Best wishes.