Individuals who replace their main residence can reclaim the SDLT where the new home was purchased before selling the old, subject to the old residence being sold within 3 years of the new home purchase.
The reclaim of additional SDLT paid could be made within 12 months by amending the submitted on purchase of the new house or within 3 months of selling their old home; whichever of the two came later.
Where the new property has been purchased before selling the old home, the purchaser is liable to a higher rate of SDLT.
If the old home is sold within 3 years of buying the new home, a reclaim of SDLT could be made.
The reclaim period is the later of either 12 months of buying the new home or (now) within 12 months of selling the old home.
This will affect individuals and Joint purchasers subject to the higher rates of Stamp Duty on additional dwellings where they buy a new home before selling their old residence.