Tania Mathias – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Tania Mathias on 2015-12-16.

To ask Mr Chancellor of the Exchequer, whether he plans that the three per cent additional stamp duty rate on the purchase of a second home will apply to people in the process of moving house who own two properties for a short period of time.

Mr David Gauke

In general, if, at the end of the day of a residential property transaction, a purchaser owns more than one property and has not replaced a main residence, the higher rates will apply. Where there is a temporary overlap between replacing and selling a main residence, the higher rates will apply but the purchaser will be entitled to a refund of the higher amounts on disposal of the previous main residence within 18 months.

The Government is consulting on the policy detail, including on the treatment of difficult cases.