ASK219: How does Multiple Dwelling Relief work? PLUS: How long do I have to sell my former home and claim a stamp duty refund?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 21 January 2020

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week on Ask Rob & Rob, the guys have got a stamp duty special! We know, we’re just too good to you! Our first caller with his stamp duty related question is Medassa. He’s in the process of buying two blocks of flats with a business partner which are blocks of six and five individually let apartments. He’s wondering how multiple dwelling relief works. To his understanding, you can split the stamp duty costs amongst each individual apartment which will reduce the stamp duty costs. But is he right? The second question this week comes from Stan. He’s obviously been busy listening to the podcast which has sparked up his own question. Like a previous listener, he wasn’t aware that if you kept hold of a residential property and bought a new one to live in, that further down the line you could claim back the higher amount of stamp duty that you would have paid. So now Stan is wondering just what exactly is this time frame and has he missed the boat to make a claim? Tune in to find out... Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours. Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hi, I'm Rob. And I'm Rob. And this is Ask Rob and Rob.
0:08.7	Welcome to Ask Rob and Rob where we are here to dispatch another two of your questions and this week it's a
0:14.4	stamp duty special. Oh yes try to contain your excitement. We're going to get to those
0:18.8	questions in just a second but first let's have a quick reminder of how to send in your own.
0:23.4	Yeah if you want to join the show and ask us exciting questions about staff duty or
0:26.8	anything else you can call us on a 13 808 triple 035 that's I won't 3 808 triple oh 35 That's 1,000,000,000,000, 3, 808,000, 3, 5.
0:35.0	Or you can go to Property Hub.net,
0:37.0	forward slash, ask.
0:39.0	That's exactly what Madassa's done, so let's have a listen.
0:42.0	Hey Robin Rob, it's Madassa here.
0:45.0	I am phoning up regarding a question to do with multiple dwelling relief.
0:50.0	I'm in the person of buying two blocks of flats with a business partner.
0:53.4	The blocks of flats are a block of six individually let apartments, so self-contained,
0:58.8	and a block of five individual let apartments.
1:02.0	So multiple dwelling relief, how does it work? So my understanding is that you can
1:06.2	buy an apartment, you essentially split the cost of stamp duty against each individual flat and you are able to reduce your stamp duty costs as a result of that.
1:19.0	Can you please shed some light on this because I'm sure there be many people who won't be aware of multiple
1:24.5	dwelling relief as I'm not and we obviously could reduce our stamp duty burden as a result of this.
1:31.5	Any help would be much appreciated. Thank you.
1:34.2	A Rob, because this one sounds so easy, I'll let you take it.
1:37.0	Yeah, I must admit I had to do a bit of research on this one. Not something I could just
1:40.9	rattle off the top of my head. I have done the reading so hopefully I can
	...

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