Suppose a couple is buying a house in the UK. One partner is a first time buyer, another owns a share of property overseas with value less than £40,000 (and nothing else). Suppose they are buying a house for £400,000. What then will be the amount of Stamp Duty?
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The UK government has published guidance notes on Stamp Duty that answer these questions and more. That document makes it clear that.
To count as a first time buyer you must not have ever owned any residential property anywhere in the world before and you must be buying the property as your main residence.
If you're buying the property jointly and one of you does not qualify for first time buyer status then neither of you can get the first time buyer discount.
Robert Longson
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