Will multiple dwelling relief be a possibility?
I am buying an entire freehold building containing two separate flats for £385,000. We will let one flat and live in the other. Are you able to tell me whether we can take advantage of multiple dwelling relief? Our solicitor has not come across this before but after reading about it in the Property Tax Insider I think we are eligible.
Arthur Weller replies:
You can take advantage of multiple dwelling relief from stamp duty land tax (SDLT). See www.hmrc.gov.uk/manuals/sdltmanual/SDLTM29900.htm to check that the facts in your scenario match with the conditions. As a result of the relief, you will pay only 1% SDLT on £385,000.
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