Tax Questions

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Setup letting agency to manage my properties by Skag Started by Skag, 16-10-2017, 17:38 PM	14 responses 664 views 0 likes	Last Post by CaveMan 02-11-2017, 08:41 AM
Uneven rental income split by Paul B Started by Paul B, 18-10-2017, 08:42 AM	9 responses 267 views 0 likes	Last Post by bhodgkiss 31-10-2017, 19:56 PM
Is Remortgage interest tax an allowable expense for primary home renovation? by bobby69 Started by bobby69, 30-10-2017, 15:42 PM	2 responses 162 views 0 likes	Last Post by Gordon999 31-10-2017, 14:23 PM
If I have 3 BTLs and one makes profit and the other two a loss, whats the total tax? by bhodgkiss Started by bhodgkiss, 19-10-2017, 19:58 PM	4 responses 221 views 0 likes	Last Post by bhodgkiss 30-10-2017, 17:55 PM
VAT on commercial to residential project by Dan_Manchester Started by Dan_Manchester, 28-10-2017, 11:47 AM	2 responses 78 views 0 likes	Last Post by Dan_Manchester 29-10-2017, 06:31 AM

Higher rate stamp duty

by jase222

Hi
we are selling our main residence and moving into a buy to let I have and in a few months looking to buy another main residence for approximately 350k .
I have now understood I will have to pay higher rate stamp duty , is there any way around it . I have used a calculator and standard...
- Channel: Tax Questions
21-05-2022, 05:52 AM
Reply to Higher rate stamp duty

by loanarranger

I appreciate that this is slightly off topic for the OP but Is your Buy to Let in Mortgage ? If yes have you obtained consent from your lender to occupy it since by doing so the mortgage then becomes a regulated BtL for which not every lender allows , just a question you might want to deal with if you...
- Channel: Tax Questions
22-05-2022, 05:27 AM
Reply to Higher rate stamp duty

by DoricPixie

It's in the manual.

https://www.gov.uk/hmrc-internal-man...ual/sdltm09800...
- Channel: Tax Questions
21-05-2022, 14:19 PM
Reply to Higher rate stamp duty

by Gordon999

Keep your last council tax and utility bills from old residence ( as evidence ) to show conveyancing solicitor for purchase of new residence .
- Channel: Tax Questions
21-05-2022, 12:45 PM
Reply to Higher rate stamp duty

by Neelix

https://www.gov.uk/stamp-duty-land-t...property-rates
- Channel: Tax Questions
21-05-2022, 12:05 PM
Reply to Higher rate stamp duty

by jase222

No I bought my last buy to let in 2008 ? Just hopeful I can avoid it but I fear not ☹️
- Channel: Tax Questions
21-05-2022, 11:52 AM
Reply to Higher rate stamp duty

by Neelix

Op did you pay second stamp duty levy on your BTL?
- Channel: Tax Questions
21-05-2022, 11:37 AM
Reply to Higher rate stamp duty

by theartfullodger

Depends on tax rules when you sell. In 12 months who knows? Country's finances in such a mess what with Covid, Brex**it, Ukraine, etc etc many including me expect takes to increase, this sort of tax IMHO highly likely.
- Channel: Tax Questions
21-05-2022, 11:16 AM
Reply to Higher rate stamp duty

by jase222

Hi is there any way to confirm that because we will hopefully move within 12 months of moving into buy to let...
- Channel: Tax Questions
21-05-2022, 11:07 AM
Reply to Higher rate stamp duty

by DoricPixie

You shouldn’t have to pay the higher rate as you’re selling your main residence to buy another main residence. You have a 3 year window in which to complete the sale of your current home and complete the purchase of your new home so as long as you’re within that time frame the time spent in your...
- Channel: Tax Questions
21-05-2022, 07:52 AM

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