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Sam, Accountant
Category: Tax
Satisfied Customers: 16543
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I need an advice on Stamp Duty. I am going to buy a house in

Customer Question

Hi. I need an advice on Stamp Duty. I am going to buy a house in UK which will be my main residence. But I am also a co-owner of my parents' house abroad. Overall value of the property abroad is less than 40 000 GBP, my share is half of that. I already sold the house, that was my main residence there - but I was renting in UK for more than 3 years before selling it. Which stamp duty rate will I need to pay? Thank you. Regards, Leonardas.
JA: When was the property or asset sold?
Customer: It was sold a month ago.
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: I think no. I tried to explain everything already.
Submitted: 8 days ago.
Category: Tax
Expert:  Sam replied 8 days ago.

Hi Leoardas

Then if you own more than £40000 worth in your parents home you will pay the additional 3% stamp duty - ypui stae its less so you will not pay the additional 3% surcharge so you will just pay any standard rate