whilst you are correct in most cases however that is not taking into account SDLT relief for multiple dwellings
here is a copy and paste from HMRC own website, hence the reason for the post
Example
You buy 5 houses for £1 million.
£1 million divided by 5 is £200,000....
There are no conversations in this channel.
Please log in to your account to view your subscribed posts.
Topics | Statistics | Last Post | ||
---|---|---|---|---|
Started by Jezzer, 30-10-2006, 14:52 PM
|
11 responses
2,054 views
0 likes
|
Last Post
![]() |
||
Started by fudge, 30-10-2006, 21:45 PM
|
5 responses
1,523 views
0 likes
|
Last Post
![]() |
||
Started by Jezzer, 30-10-2006, 14:54 PM
|
5 responses
1,718 views
0 likes
|
Last Post
![]() |
||
Started by multipropertyguy, 30-10-2006, 11:53 AM
|
3 responses
1,146 views
0 likes
|
Last Post
![]() |
||
Started by bighousesmallhouse, 25-10-2006, 19:09 PM
|
5 responses
2,557 views
0 likes
|
Last Post
![]() |
||
Started by drmaxell, 29-10-2006, 15:16 PM
|
1 response
933 views
0 likes
|
Last Post
![]() |
||
Started by sretosf, 23-10-2006, 16:03 PM
|
3 responses
1,141 views
0 likes
|
Last Post
![]() |
||
Started by Polly, 26-10-2006, 13:22 PM
|
7 responses
1,705 views
0 likes
|
Last Post
![]() |
||
Started by wizard, 25-10-2006, 19:44 PM
|
1 response
988 views
0 likes
|
Last Post
![]() |
||
Started by clueless, 23-10-2006, 13:53 PM
|
7 responses
1,181 views
0 likes
|
Last Post
![]() |
No topics found.
Latest Topics
Collapse
-
Reply to SDLT relief for multiple dwellingsby BIGGYBIBIG
-
Channel: Tax Questions
11-08-2022, 16:39 PM -
-
by BIGGYBIBIGHello everyone,
I have had an offer accepted on a property purchase, subject to a surveyors report of £395,000 in England.
I am currently looking at surveyors but i just wanted to know where i stand in terms of stamp duty, costs etc.
I have phoned 5 different solicitors...-
Channel: Tax Questions
10-08-2022, 19:20 PM -
-
Reply to Giving/Gifting House to Kidsby jpkeatesThat's part of why it's worth getting professional advice - sometimes paying some CGT at 18% is more appealing than IHT at 40%.
But lots of people don't have to pay any IHT at all, and if the bulk of the estate is a £200k property it would be well under the threshold at which any tax is...-
Channel: Tax Questions
11-08-2022, 15:15 PM -
-
by Tony-EdwardsElderly parents in early 80s, one in not so good health.
Lived in the same home (no mortgage etc) for 50+ years - now worth approx £180,000 - £200,000 and they have minimal savings.
Looking ahead, if one has to go into care (or council provided home care) I understand there...-
Channel: Tax Questions
11-08-2022, 11:12 AM -
-
Reply to Giving/Gifting House to Kidsby NeelixHum,
We know a family where the dad got a dementia diagnosis at the age of about 66 - he lived another 12 years. The cash assets of the parents were split 50/50 and these went quickly. There is a 50% charge on the house, that the wife can live in for life but can't downsize because 50%...-
Channel: Tax Questions
11-08-2022, 15:10 PM -
-
Reply to Giving/Gifting House to Kidsby LawcruncherIndeed.
These days getting professional advice does not always ensure the best advice and the advice can be very expensive. What clients whose main asset is their home should be told is:
· It is a myth that "the council can take your home to pay for care".
...-
Channel: Tax Questions
11-08-2022, 14:57 PM -
-
Reply to Giving/Gifting House to Kidsby NeelixI'd rather my parents lived in comfort during their last years ............... clearly you don't seem to care....
-
Channel: Tax Questions
11-08-2022, 14:54 PM -
-
Reply to Giving/Gifting House to Kidsby Tony-EdwardsAt least there is a maximum lifetime amount of IIRC £86,000 now that the council can rob.
But with a property worth £180,000, by the time they've had 2 x £86,000 there's not much left is there.-
Channel: Tax Questions
11-08-2022, 14:50 PM -
-
Reply to Giving/Gifting House to Kidsby NeelixWell, my late mother had sold her house so when she needed full nursing care in 2012, the £6K per month spent it fast.
I think that the 7 year period should be 20 years.
As for people who haven't saved not being penalised - have you visited many "basic" care hom...-
Channel: Tax Questions
11-08-2022, 14:45 PM -
-
Reply to Giving/Gifting House to Kidsby Tony-EdwardsYes, I think I'd read of a 7 year period to avoid the deprivation of assets claim by a council - so with them in their early 80s it makes sense to seriously look at it now.
They will (quite rightly in my opinion) be furious that they saved and have assets which can be taken off them - when...-
Channel: Tax Questions
11-08-2022, 14:41 PM -