SDLT advice on the new 3% surcharge for additional residential properties
Background: We were approached for SDLT advice in connection with a new property purchase. Our client owned a property personally which they had lived in with their partner for many years. The partner owned a rental flat solely in their name.
The couple wished to jointly purchase a new property to live in and sell the house they were currently living in. This, however, would have triggered an additional 3% SDLT liability on the entire property value by virtue of the partner not having a share in the main residence and owning a separate property.
How we helped: Without our help, additional SDLT of £9,000 would have been due under the new 3% surcharge rules. As a result of our advice, the client was able to change their position, saving them from paying this additional SDLT.