I have a buy to let property I’ve owned for many years and am now looking to buy a house to live in with my family. I put the buy to let on the market to avoid additional stamp duty levies altogether but this property has remained on the market for a long time and in this time we’ve found the ideal property. I’ve never had a “main residence” and the buy to let is the property I have ever owned. Can I not claim a refund on the additional stamp duty if, for example, within 6 months of buying our new and only main residence the buy to let gets sold?
I’m afraid you cannot get the main residence replacement exemption because you have not previously owned one so your only hope is to dispose of your buy to let before acquiring your new residence. This is harsh but is explained at 5.1 of my guide to the new 3% additional rate in the news section of my site. The only consolation is that the guy who designed this terrible new tax is out of a job and probably watching daytime TV.