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My client has asked for clarification on the new stamp duty land tax rules. He owns his own home which he lives in and also an investment property. He is about to sell his own home and buy a new one. Does the additional rate of stamp duty land tax apply? - Crowther Image

Where an individual sells their home and buys a new home, they will not be subject to the higher rates of stamp duty land tax on the basis that the new dwelling is a replacement of their ‘only or main residence’.

If an individual has a number of residences, the main residence will need to be identified.

The provisions do not require the sale and purchase to happen on the same day and in broad terms, there is a three year window for the replacement to occur.

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