Stamp duty claw back

[Pinkpanter]

Hi, I bought a house in 2006 as
a first time buyer ie no stamp
duty was payable. I am now going to
rent the house out. Am I liable
to pay a claw back on stamp duty.
Does the 5 or 2 year rule apply to me.
I believe it changed in Dec 2007. However
I bought my property in 2006.

 

[Guitarist]

“Prior to 5 December 2007, the period where no rent could be obtained was five years. Under the Finance Act 2008, this period has been reduced from 5 years to 2 years for deeds executed on or after the 5 December 2007.

For instruments executed before 5 December 2007, to the extent that a dwelling house or apartment is rented out on or after 5 December 2007, it will not involve a clawback of the relief where this occurs in the third, fourth or fifth year of ownership”

 

[Pinkpanter]

Thanks for reply. I'm just confused with the language used. This implies that I am not
liable for claw back of stamp duty.

 

[Guitarist]

Sorry, I cut and pasted - the answer in plain language is that you don't have clawback if the property is over two years old after 2007.