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Thursday, June 09, 2016
SDLT anomaly for landlords renting who want to buy
It appears that as the updated SDLT laws are drafted, a landlord who lives in a house rented from someone else, who then goes on to buy a home to live in is subject to the additional 3 per cent SDLT on that purchase, despite the purchase becoming their main residence.
This can't be right? If it is, then surely an amendment is needed.
This can't be right? If it is, then surely an amendment is needed.
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1 comment:
This is entirely correct, and it was pointed out in consultation submissions:
http://www.landlordzone.co.uk/forums/showthread.php?71734-Any-other-non-owner-occupier-landlords-worried-re-3-SDLT-hike-for-own-residences
However the Treasury's consultation response basically said they realised that there's an anomaly but they don't care, so I wouldn't hold your breath for an amendment.
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