If you have acquired a new home since 1 April 2016 you should be aware of the 3% stamp duty land tax (SDLT) supplement which applies to purchases of second and additional homes. This 3% supplement was copied in Scotland for land and buildings tax (LBTT) and in Wales for land transaction tax (LTT) from 1 April 2018. But there are different conditions for relief from the 3% supplement in each country. Scotland has recently amended its law to provide relief from the 3% supplement where a couple buy a home together to replace their main home, but their former home was held in the sole name of just one of the individuals. If you fall into this category, you can now apply for a refund of the additional LBTT paid, right back to April 2016.
If you paid the SDLT supplement on the purchase of your property, it is worth checking whether a refund is due. For example, if the property acquired was not 100% residential the supplement is not due.
Where the new property was acquired as your main home and the old home was disposed of within three years, a refund of SDLT may be due. But don’t hang around, as a claim for overpaid SDLT must be made within three months of the sale of the previous main residence or within 12 months of the filing date of the land transaction return, whichever is later.