If I sell my house without buying another property, do I need to pay stamp duty when I'm ready to buy again?

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If I sell my current flat (bought in 2014) to move abroad; if/when I return to the UK, would I need to pay stamp duty on a new house purchase?



Assuming no properties here are worth more than £300k but no less than £125k and the current rules are not going to change for the foreseeable future.










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    up vote
    5
    down vote

    favorite












    If I sell my current flat (bought in 2014) to move abroad; if/when I return to the UK, would I need to pay stamp duty on a new house purchase?



    Assuming no properties here are worth more than £300k but no less than £125k and the current rules are not going to change for the foreseeable future.










    share|improve this question























      up vote
      5
      down vote

      favorite









      up vote
      5
      down vote

      favorite











      If I sell my current flat (bought in 2014) to move abroad; if/when I return to the UK, would I need to pay stamp duty on a new house purchase?



      Assuming no properties here are worth more than £300k but no less than £125k and the current rules are not going to change for the foreseeable future.










      share|improve this question













      If I sell my current flat (bought in 2014) to move abroad; if/when I return to the UK, would I need to pay stamp duty on a new house purchase?



      Assuming no properties here are worth more than £300k but no less than £125k and the current rules are not going to change for the foreseeable future.







      united-kingdom mortgage first-time-home-buyer






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      asked Sep 2 at 10:38









      S-Man

      261




      261




















          2 Answers
          2






          active

          oldest

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          up vote
          9
          down vote













          Based on your question I assumed:



          • The house purchase in question is in England/Northern Ireland (based on your tag, and your mention of 'Stamp Duty' - it is known under a different name in Scotland and Wales)

          • You owned the flat you currently hold, either on a mortgage or outright

          (Please edit the question if these assumptions are not true)




          One-line summary: You will need to pay Stamp Duty Land Tax (SDLT), albeit likely at the standard rate.



          The current first-time buyers relief on stamp duty comes with the following eligibility:




          Rates if you’re buying your first home



          You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.



          You’re eligible if:



          • you, and anyone else you’re buying with, are first-time buyers

          • you complete your purchase on or after 22 November 2017



          As you, as per the assumptions, bought a home before, you are not eligible. Instead the standard rate apply, which at the time of writing is:



          • Zero for the first £125k

          • 2% for the next £125k (i.e. up to £250k)

          • 5% for the next £675k (i.e. up to £925k), and so on

          Now assuming you did not make any home purchases when you are aboard, you do not need to pay the higher rate SDLT.



          If you bought a home when you are aboard, and did not manage to sell it before you came back to the UK and buy a UK home, the higher rate SDLT applies. Though in this case the rules are slightly different (see this GOV.UK page):




          There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.




          Use this calculator to get an idea how much SDLT you will need to pay.






          share|improve this answer






















          • Great answer. Welcome to money.SE!
            – Vicky
            Sep 2 at 11:16

















          up vote
          2
          down vote













          You’ll pay stamp duty like anyone else buying a house that’s their only property, but not as a first-time buyer. In the price range you’re talking about that will be 2% of anything you pay between £125K and £250K plus 5% of anything over £250K.






          share|improve this answer




















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            2 Answers
            2






            active

            oldest

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            2 Answers
            2






            active

            oldest

            votes









            active

            oldest

            votes






            active

            oldest

            votes








            up vote
            9
            down vote













            Based on your question I assumed:



            • The house purchase in question is in England/Northern Ireland (based on your tag, and your mention of 'Stamp Duty' - it is known under a different name in Scotland and Wales)

            • You owned the flat you currently hold, either on a mortgage or outright

            (Please edit the question if these assumptions are not true)




            One-line summary: You will need to pay Stamp Duty Land Tax (SDLT), albeit likely at the standard rate.



            The current first-time buyers relief on stamp duty comes with the following eligibility:




            Rates if you’re buying your first home



            You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.



            You’re eligible if:



            • you, and anyone else you’re buying with, are first-time buyers

            • you complete your purchase on or after 22 November 2017



            As you, as per the assumptions, bought a home before, you are not eligible. Instead the standard rate apply, which at the time of writing is:



            • Zero for the first £125k

            • 2% for the next £125k (i.e. up to £250k)

            • 5% for the next £675k (i.e. up to £925k), and so on

            Now assuming you did not make any home purchases when you are aboard, you do not need to pay the higher rate SDLT.



            If you bought a home when you are aboard, and did not manage to sell it before you came back to the UK and buy a UK home, the higher rate SDLT applies. Though in this case the rules are slightly different (see this GOV.UK page):




            There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.




            Use this calculator to get an idea how much SDLT you will need to pay.






            share|improve this answer






















            • Great answer. Welcome to money.SE!
              – Vicky
              Sep 2 at 11:16














            up vote
            9
            down vote













            Based on your question I assumed:



            • The house purchase in question is in England/Northern Ireland (based on your tag, and your mention of 'Stamp Duty' - it is known under a different name in Scotland and Wales)

            • You owned the flat you currently hold, either on a mortgage or outright

            (Please edit the question if these assumptions are not true)




            One-line summary: You will need to pay Stamp Duty Land Tax (SDLT), albeit likely at the standard rate.



            The current first-time buyers relief on stamp duty comes with the following eligibility:




            Rates if you’re buying your first home



            You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.



            You’re eligible if:



            • you, and anyone else you’re buying with, are first-time buyers

            • you complete your purchase on or after 22 November 2017



            As you, as per the assumptions, bought a home before, you are not eligible. Instead the standard rate apply, which at the time of writing is:



            • Zero for the first £125k

            • 2% for the next £125k (i.e. up to £250k)

            • 5% for the next £675k (i.e. up to £925k), and so on

            Now assuming you did not make any home purchases when you are aboard, you do not need to pay the higher rate SDLT.



            If you bought a home when you are aboard, and did not manage to sell it before you came back to the UK and buy a UK home, the higher rate SDLT applies. Though in this case the rules are slightly different (see this GOV.UK page):




            There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.




            Use this calculator to get an idea how much SDLT you will need to pay.






            share|improve this answer






















            • Great answer. Welcome to money.SE!
              – Vicky
              Sep 2 at 11:16












            up vote
            9
            down vote










            up vote
            9
            down vote









            Based on your question I assumed:



            • The house purchase in question is in England/Northern Ireland (based on your tag, and your mention of 'Stamp Duty' - it is known under a different name in Scotland and Wales)

            • You owned the flat you currently hold, either on a mortgage or outright

            (Please edit the question if these assumptions are not true)




            One-line summary: You will need to pay Stamp Duty Land Tax (SDLT), albeit likely at the standard rate.



            The current first-time buyers relief on stamp duty comes with the following eligibility:




            Rates if you’re buying your first home



            You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.



            You’re eligible if:



            • you, and anyone else you’re buying with, are first-time buyers

            • you complete your purchase on or after 22 November 2017



            As you, as per the assumptions, bought a home before, you are not eligible. Instead the standard rate apply, which at the time of writing is:



            • Zero for the first £125k

            • 2% for the next £125k (i.e. up to £250k)

            • 5% for the next £675k (i.e. up to £925k), and so on

            Now assuming you did not make any home purchases when you are aboard, you do not need to pay the higher rate SDLT.



            If you bought a home when you are aboard, and did not manage to sell it before you came back to the UK and buy a UK home, the higher rate SDLT applies. Though in this case the rules are slightly different (see this GOV.UK page):




            There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.




            Use this calculator to get an idea how much SDLT you will need to pay.






            share|improve this answer














            Based on your question I assumed:



            • The house purchase in question is in England/Northern Ireland (based on your tag, and your mention of 'Stamp Duty' - it is known under a different name in Scotland and Wales)

            • You owned the flat you currently hold, either on a mortgage or outright

            (Please edit the question if these assumptions are not true)




            One-line summary: You will need to pay Stamp Duty Land Tax (SDLT), albeit likely at the standard rate.



            The current first-time buyers relief on stamp duty comes with the following eligibility:




            Rates if you’re buying your first home



            You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.



            You’re eligible if:



            • you, and anyone else you’re buying with, are first-time buyers

            • you complete your purchase on or after 22 November 2017



            As you, as per the assumptions, bought a home before, you are not eligible. Instead the standard rate apply, which at the time of writing is:



            • Zero for the first £125k

            • 2% for the next £125k (i.e. up to £250k)

            • 5% for the next £675k (i.e. up to £925k), and so on

            Now assuming you did not make any home purchases when you are aboard, you do not need to pay the higher rate SDLT.



            If you bought a home when you are aboard, and did not manage to sell it before you came back to the UK and buy a UK home, the higher rate SDLT applies. Though in this case the rules are slightly different (see this GOV.UK page):




            There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.




            Use this calculator to get an idea how much SDLT you will need to pay.







            share|improve this answer














            share|improve this answer



            share|improve this answer








            edited Sep 2 at 11:20

























            answered Sep 2 at 11:10









            B.Liu

            2555




            2555











            • Great answer. Welcome to money.SE!
              – Vicky
              Sep 2 at 11:16
















            • Great answer. Welcome to money.SE!
              – Vicky
              Sep 2 at 11:16















            Great answer. Welcome to money.SE!
            – Vicky
            Sep 2 at 11:16




            Great answer. Welcome to money.SE!
            – Vicky
            Sep 2 at 11:16












            up vote
            2
            down vote













            You’ll pay stamp duty like anyone else buying a house that’s their only property, but not as a first-time buyer. In the price range you’re talking about that will be 2% of anything you pay between £125K and £250K plus 5% of anything over £250K.






            share|improve this answer
























              up vote
              2
              down vote













              You’ll pay stamp duty like anyone else buying a house that’s their only property, but not as a first-time buyer. In the price range you’re talking about that will be 2% of anything you pay between £125K and £250K plus 5% of anything over £250K.






              share|improve this answer






















                up vote
                2
                down vote










                up vote
                2
                down vote









                You’ll pay stamp duty like anyone else buying a house that’s their only property, but not as a first-time buyer. In the price range you’re talking about that will be 2% of anything you pay between £125K and £250K plus 5% of anything over £250K.






                share|improve this answer












                You’ll pay stamp duty like anyone else buying a house that’s their only property, but not as a first-time buyer. In the price range you’re talking about that will be 2% of anything you pay between £125K and £250K plus 5% of anything over £250K.







                share|improve this answer












                share|improve this answer



                share|improve this answer










                answered Sep 2 at 10:52









                Mike Scott

                12.6k3446




                12.6k3446



























                     

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