John and Nico are buy-to-let investors with 10 dwellings in their portfolio. They also own another dwelling which they use as their main residence. They decide to sell their previous main residence and purchase their next main residence. At the end of the day that is the effective date of the transaction, John and Nico own 11 dwellings – their next main residence and their 10 buy-to-let dwellings. However, as they have replaced their previous main residence they will not pay the ADS.