Stamp Duty Payable and Second Property

[Jimmy Bond]

I built a house on my own land 2 years ago which is quite a distance from where I work. As the commute is long I am looking at buying a second (new) house to use for 3 -4 days / week. The property has a Floor Area Cert and my solicitor has advised that there is no stamp duty payable if I declare it as my PPR. Does this seem right ? and is there any negative aspects of going this way? ....especially in terms of the house that I built 2 years ago.

I want to make sure that I am making a decision that will have no long-term negative consequences. Can anyone clarify this for me?

 

[ClubMan]

You can't "declare" a property to be your PPR - it either is or it's not.