Stamp Duty Second Purchase - Exemption

[kaiser78]

We are selling our main residence and btl property to buy our next properties individually as part of our divorce process.

The main residence sale is going through and my future-ex has found another property to purchase as part of this (I am still looking). I have read that they will have to pay second home stamp duty on this property as the BTL is still ours, however we will be entitled to claim this back due to getting divorced.

Can the BTL be transferred into my name in the meantime so that future-ex doesn't have to pay the stamp duty ?

Can anyone shed any light on this ?

[mudskipper]

We are selling our main residence and btl property to buy our next properties individually as part of our divorce process.

The main residence sale is going through and my future-ex has found another property to purchase as part of this (I am still looking). I have read that they will have to pay second home stamp duty on this property as the BTL is still ours, however we will be entitled to claim this back due to getting divorced.

Can the BTL be transferred into my name in the meantime so that future-ex doesn't have to pay the stamp duty ?

Can anyone shed any light on this ?

IIRC there is a minimum residency requirement

[doconline]

We are selling our main residence and btl property to buy our next properties individually as part of our divorce process.

The main residence sale is going through and my future-ex has found another property to purchase as part of this (I am still looking). I have read that they will have to pay second home stamp duty on this property as the BTL is still ours, however we will be entitled to claim this back due to getting divorced.

Can the BTL be transferred into my name in the meantime so that future-ex doesn't have to pay the stamp duty ?

Can anyone shed any light on this ?

As you are replacing your main residence I don't think you should be paying the higher rates of stamp duty anyway - https://www.gov.uk/stamp-duty-land-t...property-rates. Even if you have yet to complete on the sale of your main residence, I think you would be able claim the higher rates back if you complete the purchase within 36 months.

[barrydidit]

Main residence disposal means the additional stamp duty is not due.

[Jessica@WhiteFieldTax]

Main residence disposal means the additional stamp duty is not due.

Maybe, but it depends on timing. If MR completes after purchase of other property then you pay higher rates and claim back.

@OP With the twist of a marriage break down and a BTL, and relatively new rules, you need to be pressing your lawyers for very clear answers on this one. They are best placed.

[kaiser78]

Thanks all. Yes we were only made aware of this yesterday as part of the new purchase discussions.

MR will be sold as part of the purchase and BTL at a later date. I had read that the higher stamp duty is refundable in certain circumstance and am speaking to a specialist solicitor this afternoon on this.