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Selling A Home

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smurfchops | 17:06 Sun 31st Mar 2024 | Business & Finance
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My son is selling downsizing, and moving in to a smaller house.  He will be moving out of his house and downsizing on the same day.  He knows he has to pay stamp duty.  However he also owns another flat that he rents out.  Because he owns two properties at the moment, will he have to pay a higher stamp duty when he moves?



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This should help, reads like if he is selling his main residence and ourchasing another main residence the answer is no.

Since he is replacing his principal property he should not have to pay the additional 3% stamp duty. However, if he buys his new property before selling his old one, he will have to pay the additional 3% but he can claim it back when his old property is sold.

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Thank you for your help.

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