PPR

whether to notify HMRC

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Hi I have a client who owned a property (main residence) and a BTL. They sold their main residence in May and moved into their BTL, which they are now renovating. They are buying a new home which will be their new main residence and they will re let the BTL where they have been living since May. Their solicitor has advised them they wont have to pay the additional 3% stamp duty on the new purchase as they are replacing their main residence. My question is, do I write to HMRC and advise them that their current PPR is the BTL address (in case they ever come to sell and want tax relief for having lived there) or will this impact them getting the reduced rate of stamp duty?

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By Tim Vane
14th Sep 2016 15:39

No.

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By K81
14th Sep 2016 15:51

not specifically but you do need to notify HMRC of the change of address.

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Replying to fawltybasil2575:
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By williamsaccounts
15th Sep 2016 09:27

Hi Basil
Thank you so much for your comprehensive reply. I have taken it all on board and will revisit PPR.

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By Matrix
15th Sep 2016 09:31

They will have to pay the additional 3% if they already own another property.

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Replying to Matrix:
By Duggimon
15th Sep 2016 11:06

No they won't

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