PPR to Investment Stampduty- claw back?

[Marge]

Hi there,

a friend of mine purchased a property just over 3 years ago in May 2002. She is planning to upsell and various parties are advising her to look into keeping her current property as an investment property.
Is she liable to stamp duty clawback if this became an investment property and if so, how is this calculated?
(As a firsttime buyer, she did not pay any stampduty on the origional purchase)

Thanks in advance,

Marge

 

[mikeyny]

five years have not passed and she will be liable for stamp duty at the rate that was in effect in May 2002.

people are quick to reccomend becoming a landlord but slow to tell the work it entails not to mention the startup costs

there are many stamp duty posts on Ask About Money , perform a search and you will see posts like yours , also you will see some horror stories from landlords

hope i have given you the correct information

mikeyny

 

[Marge]

Thanks for the info mikeyny!

 

[ANC]

i know there's a stamp duty clawback but is it calculated on the part of the 5 years which you didn't live in the property as your PPR or do you pay the full stamp duty that would have been payable in 2002 if it was bought as an investment property?