As a tenant, when am I liable for stamp duty?

I began renting in January 2017 and will be asked in November if I wish to remain in the property

Q I understand that a liability for stamp duty land tax (SDLT) arises for residential tenants when their cumulative rent exceeds £125,000. I am struggling to identify what level of liability I may face if I renew my rental agreement later this year.

I started renting on 31 January 2017 at a rate of £525 a week. The initial term was for two years. This was renewed for a further two years at the same rate, in November 2018. I will be asked in November this year whether I wish to remain in the property. If I do remain, assuming it’s on the same terms I will reach the £125,000 threshold by September 2021.

Continue reading...

from Property | The Guardian https://ift.tt/2StYiJ2
via IFTTT