Liability to stamp duty or CGT on property sale?

W

waltzer

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As a brand new poster, I would be grateful for any advice anyone can give.
I own an apartment which I bought around four years ago. It was a new build, so I didn't pay stamp duty on it. I'm about to sell it and won't be re-buying as I am moving out of the country. What I was wondering is do I become liable for stamp duty (I have read about certain claw-backs of exemptions) and do I pay CGT. I understood that the reason I was exempt from stamp duty at the time of purchase was because there was nothing to stamp! Ie, no title deeds to transfer as I was the first owner.
Any advice appreciated.
 
If you have lived in the property and have never rented it out (other than under the Rent-a-Room scheme), you are not liable to either stamp duty or CGT.
 
" I understood that the reason I was exempt from stamp duty at the time of purchase was because there was nothing to stamp! Ie, no title deeds to transfer as I was the first owner."

No, you got a tax exemption/benefit because you were an owner /occupier and now an investor. The claw back arises where someone who got the exemption/benefit now intends to rent it out - thereby making them an investor who would be liable for stamp duty on the purchase.

You will have received Title Deeds when you purchased and they will have been stamped but without incurring a stamp duty liability. Most deeds are stamped - whether liable to stamp duty or not. Exceptions would be the transfer of a family home from a sole name of one spouse to both names.

mf
 
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