Stamp Duties

Treasury written question – answered on 22nd April 2021.

Alert me about debates like this

Photo of Olivia Blake Olivia Blake Labour, Sheffield, Hallam

To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to allow people to reclaim the additional stamp duty charge where those people have (a) purchased a second home with the intention of selling the first, (b) been unable to sell that home as a result of cladding-related issues and (c) been unable to reclaim the three per cent additional property stamp duty charge paid on the purchase of the second property.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

A refund of the higher rate of SDLT paid can be claimed if an old main residence is sold within three years of the purchase of the new main residence. For most people, three years is enough time to sell a previous main residence. However someone who purchases a new main residence on or after 1 January 2017 will still be eligible to apply for a refund if exceptional circumstances meant they were unable to sell their previous main residence in three years and they sold the property as soon as possible after those exceptional circumstances ended.

Where a person is not permitted to sell a previous main residence, such as due to fire safety issues, the circumstances are likely to be considered exceptional. HMRC will consider each case on its own merits.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.