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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 11077
Experience:  FCCA FCMA CGMA ACIS
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I have a question about stamp duty, not yet, I don’t think

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Hi, I have a question about stamp duty
JA: Have you talked to a tax professional about this?
Customer: not yet
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 don’t think so, I can give them more context about the question but it’s all about stamp duty
Customer: replied 1 month ago.
Just to give you a bit more context on the situation:
Customer: replied 1 month ago.
I inherited half of father’s house in France in 2016. It is currently in the process of being sold but we do not know when that will be completed. In parallel, my partner and myself are looking to purchase our first home in London over the coming month. The property costs 525000, and from what we understand due to my inheritance we will need to be an extra 3% of the price in stamp duty - is that correct? If my inherited property is sold shortly after we make our purchase here in London, will I be entitled to a refund of those 3%? We’re unclear on this as it mentions only “main residences” as first properties on the government’s website. I’ve never lived nor used this inherited house, it was co-owned with my brother who needed to keep it while working through his grief but we always intended to pass it on. Thank you!
You are correct in your interpretation that you will be liable to the 3% Stamp Duty Land Tax, or rather its local equivalent, when you purchase with your partner, but if the duplicate property is disposed of within three years you can apply for a refund.
Customer: replied 1 month ago.
this is regardless of whether it was my main residence or not, correct?

Indeed.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 month ago.
Thank you that’s very useful

Delighted to have been of assistance.