Hi All,
when purchasing a buy to let via a limited company how do you determing if the second property surcharge applies - pressumably it is if the company directors already have a property OR if the company already owns a property? Any help much appreciated! Thanks
Replies (5)
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As following that link is likely to mislead you the answer is that any acquisition by a company of a residential property incurs the 3% surcharge rate, whether it is the first or subsequent purchase. I assume that the other property was acquired before the surcharge rules came in.
The (obvious) point is that there is no 3% Stamp Duty surcharge (nor indeed Stamp Duty) on purchase of a property. I know that it's pedancy but annoying nevertheless. If folks can't be bothered to get the terminology correct, then they deserve 'incorrect' replies.