Stamp duty for first time buyer, buying with someone else

Brendan Burgess

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An interesting Question and Answer in today's Sunday Business Post by Ann Williams, Director of Private Client Services with KPMG.


The stamp duty exemption is withdrawn if the occupier ceases to occupy the property as their principal residence within 5 years.

I don't know if the "rent-free" is a requirement.

Brendan
 
Re: Stamp duty for first time buyer, buying with someone els

I don't know if the "rent-free" is a requirement.

Surely it has to be as otherwise the property is a rental/investment property and the usual rules as far as a tax (including SD) goes? For what it's worth [broken link removed] mentions the "in the right of the purchaser" condition.
 
Re: Stamp duty for first time buyer, buying with someone els

From the above booklet:

Who is an Owner Occupier ?
An Owner Occupier is a person who purchases a new house/apartment which is to be occupied by
the purchaser, or a person on his behalf, as his only or principal place of residence and no rent,
other than rent under the rent-a-room scheme, is derived from the property for a period of five
years from the date of the purchase.
 
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