The HMRC classification of ‘residential’ or ‘non-residential’ is used in the context of stamp duty taxes to be paid. So, if a property is classified as non-residential for stamp duty purposes and it is resold in the future, it would be sold as a residential property, assuming the building is used as a place of residence.
Advanced frequently asked questions Pt2
- Preparation ahead of initial free consultation
- Why did I get charged residential stamp duty in the first place?
- Why condition at effective date of transaction is critical for a stamp duty reclaim.
- Why don’t you do stamp duty reclaims for Scottish and Welsh properties?
- Will there be any issues if the property is to be resold as a residential property in the future?
- Navigating the HMRC Process for Reclaimed Stamp Duty: What to Do If You’re Asked to Pay It Back