Example:

Chris currently owns four holiday apartments in Cyprus, each worth less than £40,000 and a main residence in Glasgow. She decides to replace her main residence. At the end of the day that is the effective date of the transaction, Chris is deemed to own one dwelling (her next main residence) as her ownership of the four other dwellings, although worth £160,000 cumulatively, are each worth less than £40,000 and are therefore not taken into account. As a result, the ADS will not apply to Chris's next main residence purchase transaction.

Last updated: 
5 April 2016
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