Is the three percent stamp duty on extra houses anything to worry about? I had a quick look at the rules and it seems like you can just flip your "main home" MP-style and almost completely avoid it.
For example if you are a buy-to-letter with a portfolio of half a dozen London flats and you want to spend 700,000 on another one. Instead of paying an extra (ouch) 21,000 stamp duty, can you just buy your "main" home in some godforsaken place (Wales?) where they cost 21,000. Then you move there for a couple of weeks, then buy the BTL, sell the flip-house for a nice profit, and you are the proud owner of another BTL without paying any extra tax.
Is this how it works?
For example if you are a buy-to-letter with a portfolio of half a dozen London flats and you want to spend 700,000 on another one. Instead of paying an extra (ouch) 21,000 stamp duty, can you just buy your "main" home in some godforsaken place (Wales?) where they cost 21,000. Then you move there for a couple of weeks, then buy the BTL, sell the flip-house for a nice profit, and you are the proud owner of another BTL without paying any extra tax.
Is this how it works?
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