Stamp duty query

[trident-7]

I'm considering moving house. Regarding Stamp Duty:

I have a Buy to Let property as well as the property that I live in.

If I buy the new property as my principal residence, will that attract stamp duty as an additional property (which costs more in tax) or will it "just" attract the normal stamp duty rate?

Thanks.

[Brighty]

Only if you keep your current place, if you sell that, you'll pay standard rate. If you buy now and don't sell the current place, you'll pay the extra. If you sell the current one a bit later, I think up to a year, maybe 2, you'll get a refund.
Basic rule of thumb is, no matter how many property's you own, if at the end of the buying/selling, you have the same number of property's, you don't pay. If qty goes up, you do

[trident-7]

Awesome! Thanks for the info

[lewie]

I’m just in the process of buying a second home for myself (my wife is staying in our main home until our youngest leaves home )
I expect to sell in approx 2 years somid be keen to find out if I could possibly claim back the SD as it’s costing me approx £6k extra

[mondie]

Yes, an additional 3% SD unless you sell the other property within three years. I was stunned to learn that this applies regardess of where the second property is in the world. We own property in Australia but are liable to pay the extra 3% if we buy a house to live in the UK.

[Brighty]

I’m just in the process of buying a second home for myself (my wife is staying in our main home until our youngest leaves home )
I expect to sell in approx 2 years somid be keen to find out if I could possibly claim back the SD as it’s costing me approx £6k extra

Just checked, its 3 years you get, so long as the wife won't own it either

[lewie]

Just checked, its 3 years you get, so long as the wife won't own it either

Either way it will be sold or she won’t be my wife

[David_D]

HMRC guidance:

https://www.gov.uk/guidance/stamp-du...roperty#refund

At the risk of being a smart a***, it’s SDLT (England and Wales).