I am considering trading up from my current home, which I bought new 3 years ago. Having weighed up some pros and cons and looked at the key posts here on AAM I think I'll keep my current property and rent it out.
I know that Stamp Duty is clawed back at the rate I would have otherwise paid, because I'm renting it out within 5 years.
My question is - is the clawback 2/5 of the amount I would have paid in recognition of the amount of time I lived in the place, or is it an "all or nothing" clawback, i.e. I pay the full amount even after 4 years and 11 months?
I know that Stamp Duty is clawed back at the rate I would have otherwise paid, because I'm renting it out within 5 years.
My question is - is the clawback 2/5 of the amount I would have paid in recognition of the amount of time I lived in the place, or is it an "all or nothing" clawback, i.e. I pay the full amount even after 4 years and 11 months?