Stamp Duty

[Legion]

Hi,

I will be starting a new job in another county before i draw down my mortgage on my first house. I will be commuting between rented accomodation near my new job and living in my mortgaged house at the weekends. If i decide to sell the house will i have to pay stamp duty or can i sell it after 2-3 months if i decide to settle near my place of work without having to pay the stamp duty?

Thanks in advance

 

[ClubMan]

Stamp duty is something that arises on the purchase and not sale of certain assets. Maybe you're thinking of Capital Gains Tax? Sounds like you may not be an owner occupier in which case you would be liable for investor stamp duty on the purchase. There could be other tax implications too - e.g. inability to claim owner occupier mortgage interest tax relief, possible CGT on sale of the property etc. You should get professional advice to ascertain whether or not you will qualify to be an owner occupier.