SDLTM09814 - SDLT - higher rates for additional dwellings: Adding to or changing existing interests - Stair-casing, leasehold enfranchisement - Para 7A Sch 4ZA FA2003

The Higher Rates of Stamp Duty Land Tax will not apply to transactions where, subject to certain conditions, someone merely makes changes to the nature or extent of their existing major interest in a dwelling [Para 7A].

The conditions are:

• the dwelling in question has been the purchaser’s only or main residence for the whole of the 3 year period which precedes the date of the change transaction [Para 7A(1) (b)],
• in the case of a leasehold property, the existing lease has 21 years or more to run [Para 7A(2)(b)],
• in the case of a joint tenant, the purchaser is beneficially entitled to 25% or more of the existing interest [Para 7A(3)(b)],
• in the case of tenants in common, or someone who shares equally with others in an undivided share, the purchaser is beneficially entitled to 25% or more of the existing interest [Para 7A(4)].