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Jerome2020
Jerome2020
Member
Last Activity: 04-07-2020, 05:39 AM
Joined: 30-04-2020
Location: Berkshire
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  • It doesn’t look like you’ve actually been away long enough to lose UK residency so you’ll just need to get the statements showing tax paid from your agents and then complete your self assessment as usual to make sure you pay the right tax. You shouldn’t have to anything more than that.
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  • Jerome2020
    replied to Higher rate SDLT when moving hosue
    If you’re selling your current main home and buying a new one to live in on the same day, you are definitely not liable to the additional rate of SDLT irrespective of how many other properties you own.
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  • The 26 November 2018 is the date when rules were changed so that someone had to live in the property within 3 years rather than at anytime. In the original posters scenario, the wife is handing over her interest in the former matrimonial home (which she lived in and had an interest in) on the same day...
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  • You should be able to get relief for interest up to the market value of the property when you introduced it to the Property business. If you release equity over this for spendies, interest relief should be restricted although if you use the equity release in the property business (i.e. for further acquisitions...
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  • The rules apply if you sell or give away your main home and replace it no matter how many other properties you have an interest in.

    If you own ten properties, sell your main home and replace it, you will not be liable to higher rate of SDLT on that purchase. The same principal applies to...
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  • Married couples and civil partners are treated as living together by HMRC unless they are formally separated under a Court Order, or by a formal Deed of Separation. The marriage or Civil Partnership must have truly broken down, and when assessing whether the higher rate of SDLT is payable, it is not...
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  • I'm pretty sure that if you get a formal deed of separation in place, then she would not need to pay the higher rate of SDLT. You would have to get separate legal advice on this and this may be beyond the conveyancers comfort zone.

    Additionally, once you are formally separated/divorced,...
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