How does the 3% additional rate apply when one spouse buys a new main residence?

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This topic contains 2 replies, has 1 voice, and was last updated by How does the 3% additional rate apply when one spouse buys a new main residence? by Patrick Cannon 1 Patrick 12th January 2017 at 4:24 pm.

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  • #811 Reply
    How does the 3% additional rate apply when one spouse buys a new main residence? by Patrick Cannon 2
    Sam

    Hi, We have a situation where A & B are couple. A alone owns a flat and A&B live in it as main residence. B alone wants to purchase another home as their main residence to move in. Does this result in 3% surcharge?

    #812 Reply
    How does the 3% additional rate apply when one spouse buys a new main residence? by Patrick Cannon 2
    Justin Bryant

    Yes (assuming he has not sold the flat by the completion date of the new purchase), although arguably if they are married and the wife has previously sold her main residence (and has not since acquired another property) then that might work. See: https://www.patrickcannon.net/news/discussionforum/topicdetail.cfm?topic_id=2760

    • This reply was modified 1 year, 3 months ago by How does the 3% additional rate apply when one spouse buys a new main residence? by Patrick Cannon 1 Patrick Cannon.
    • This reply was modified 7 months, 1 week ago by How does the 3% additional rate apply when one spouse buys a new main residence? by Patrick Cannon 5 Monifa Lindo.
    #813 Reply
    How does the 3% additional rate apply when one spouse buys a new main residence? by Patrick Cannon 6
    Patrick

    Assuming that the couple are married or in a civil partnership then if the existing flat is sold on or within 3 years before the new acquisition the 3% is avoided. If the flat is retained but sold within 3 years after the acquisition then the 3% is charged initially but can be reclaimed.

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