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Posted Wed, 13 Nov 2024 13:10:30 GMT by bebop_97
Hi All, I currently own two commercial propertIes (retail shop) and now looking to purchase my first domestic property as residence to live in. Going through the calculator and various solicitor's, i am getting various opinion if i need to pay stamp duty or not. Initially they said I may not be eligible as it would be my first main residence, not replacing any previous residence as i lived with my parents. Second opinion says despite this being my first residence or main residence, i am still required to pay stamp duty as i owe additional two properties (regardless being commercial or residential). However the rate may differ? The property value is £170,000 and the stamp duty after the new threshold would be £8,500. Any idea if i do need to pay stamp duty or not? Thanks
Posted Thu, 14 Nov 2024 12:03:18 GMT by HMRC Admin 34 Response
Hi,
Please contact the Stamp Duty Land Tax team for advice.
Stamp Duty Land Tax enquiries
Thank you

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