We recently advised a client who was purchasing a new main residence for £1,250,000.
Along with the main property, the title included a self-contained one-bedroom annexe.
Our client’s solicitor had applied the standard residential rate of Stamp Duty Land Tax to calculate a tax charge on this transaction of £66,250.
Upon further review, we determined that there was relief claim applicable because the property included a subsidiary dwelling, which reduced the clients tax bill to £37,500, saving them £28,750.
