Housing: Insulation

(asked on 14th December 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of suspending the time limit for the repayment of the stamp duty surcharge on second properties where the property sale has been delayed due to (a) cladding and (b) EWS1 issues.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 21st December 2020

Homeowners who pay the higher rate of Stamp Duty Land Tax on purchases of additional property can receive a refund of the higher rate if they sell their old main residence within three years of the purchase. For most people, three years is enough time to sell a property.

However, the Government recognises that there will sometimes be exceptional circumstances not in the control of the buyer or seller which mean that a previous main residence cannot be sold within three years. If someone purchased a new main residence on or after 1 January 2017, they may be eligible to apply for a refund if they were prevented from selling their previous main residence before the expiry of the three-year time limit owing to exceptional circumstances beyond their control. The previous main residence must be sold before HMRC will consider whether the circumstances are exceptional.

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