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Hi, a recent course i attended briefly stated a return of the stamp duty on selling the property. Ive asked several people who do not understand this statement, is this meant as tax relief return on selling?
Many thanks
Thanks for the replies. It was a general brief statment she made which everyone just took for granted and only questioned it afterwards. She was speaking about stampduty in general with regards to selling a property. So the only possible way is the return of the 3pc sdt on selling the first home?
If the buyers are going to rent the property while they go to university, it may meet the criteria for Stamp Duty Relief but it may not.
It would be unusual for siblings leaving university to be able to commit to cohabit in a particular place when they graduate.
Apart from anything else, if you are selling the property to the kids, you are getting cash and they have a 100% mortgage - and then they are not actually paying a mortgage on 100% of 350K you will be paying it -- it is not a classic GROB, but risks falling foul of GROB rules - so when you die, even...
Yes, the lender is happy to lend them 100% the purchase price so not gifting on our side. In essence, it's just removing it from our name into theirs as he is also our lender.
It's unusual I appreciate but it's a private commercial lender - if that makes sense. His...
Depending where you are HMRC is not going to believe "no increase in value over past two years". An estate agent assessment may not be worth much at all. If challenged and HMRC do their own assessment you may be paying tax on a 20% uplift of 350K = quite...
The intent is for them to live there but they may want to rent it out while they go off to university. That's where I'm struggling as to whether the Stamp Duty relief applies or not.
CGT wouldn't apply as the property hasn't increased in value significantly since...
This question is about allowable expenses for tax deduction.
Are letting agent fees for a 24 month lease(with a 16 month break clause) after a change of tenant considered as revenue or capital expenditure?
I use a cash basis for accounting. The fees were paid in two lump sums. One at the...
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