Marlena Topple

Registered with Property118.com
Wednesday 13th July 2016

Providing essential rental accommodation since
1992

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 48

Marlena Topple

20:43 PM, 7th December 2020
About a month ago

Stamp duty - I do object paying tax that I am not obliged to?

Reply to the comment left by at 07/12/2020 - 20:04
Hi Silversurfer
Apologies if I am getting confused. I dug out the article I was referring to which was printed in the Financial Times. It outlines an anomaly for people that own more than one property that move from residential to rented to residential property. This is an extract from the article.
“David Page, a director of Maidstone estate agent Page & Wells, was replacing his main residence so thought he would not have to pay the surcharge. He owns three properties which he rents out and is now buying a home to live in. So he was very surprised when his lawyer told him that his new home would be subject to the 3 per cent surcharge. That is because he and his wife do not own their current main home. They rent it from another landlord.

As the law is drafted, a landlord who lives in a house rented from someone else who then decides to buy a home to live in is subject to the additional 3 per cent SDLT on that purchase. That applies even though he is in fact replacing his — albeit rented — main residence.

Mr Page says the extra tax will cost him about £13,000, more than doubling the stamp duty due on his new home. And it is this tax bill he thinks is unfair.

“The injustice is the fact that if you own your own house and a number of others and move into your next main residence, it is not liable for the extra tax,” he says. “We are renting and are being penalised for making that choice.” “... Read More

Marlena Topple

19:50 PM, 7th December 2020
About a month ago

Stamp duty - I do object paying tax that I am not obliged to?

Reply to the comment left by neilt at 07/12/2020 - 19:47
Please do take advice to check this out property. I got my information from an article in an online financial web site.... Read More

Marlena Topple

19:05 PM, 7th December 2020
About a month ago

Stamp duty - I do object paying tax that I am not obliged to?

My understanding is if you move from a residential property into a rental property and then onto a residential property you are not eligible for the 3% stamp duty refund.... Read More

Marlena Topple

11:27 AM, 1st December 2020
About 2 months ago

Calculating income for CGT mid-year?

Silver surfer your situation mirrors mine and it is useful to hear of your approach. Thank you to you and others for your responses.... Read More

Marlena Topple

10:35 AM, 11th November 2020
About 2 months ago

Can the loft conversion still be used as a bedroom?

If it was me I would want a structural survey on the house to satisfy myself the work has been done to a good standard. If the extension is not properly insulated it will not be comfortable to use as a bedroom during cold/warm spells. You will need to consider safety aspects like if/how the fire service could get a ladder or cherry picker to the occupant/s in case of fire, room height in relation to stairs, etc.... Read More