SDLT when moving from rented into own home as a Landlord owning BTLs?
I am a landlord myself and am selling my own Principal Private Residence home to move into rented for approx 2 years.
I understand the extra 3% SDLT may play a part if I stay in rented this long and then wish to buy another PPR property to move into.
Should I move into one of my own rentals or rent from another landlord?
As I am looking at purchasing (after 2 yrs) a property of some value £ 900k-1m the 3% extra SDLT is very considerable and I need to decide what route to take with view to this in the future.
Please advise
Janet
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Finding it impossible to evict tenant
Member Since February 2016 - Comments: 25
11:03 AM, 31st March 2017, About 9 years ago
Reply to the comment left by “Rosie Semaj” at “31/03/2017 – 10:15“:
Thanks once again Rosie, you are very knowledgeable just the help I needed. So if it’s owned by us and left empty we can declare it as our PPR though we aren’t living in it? And there is no need for proof of occupation I. E. Post, utility usage etc?
Our situation is somewhat complex we do have possibly an alternative scenario, would you be so kind as to email me and I can explain further in more detail. [email protected]
Most appreciated
Member Since January 2016 - Comments: 473
7:12 PM, 1st April 2017, About 9 years ago
Reply to the comment left by “Rosie Semaj” at “31/03/2017 – 10:15“:
Then perhaps you don’t rent out the property up north, you live there in your PPR in one of the rooms and take in lodger(s), collect up to £7500pa free of tax. Not sure how many days you have to sleep there if your work calls you back to the South as long as one (perhaps locked) room is available to you.
Comments: 4
9:01 AM, 3rd April 2017, About 9 years ago
Reply to the comment left by “J lied03” at “31/03/2017 – 11:03“:
J Lied03, I emailed you on Friday with my contact details.
Member Since February 2016 - Comments: 25
10:05 AM, 3rd April 2017, About 9 years ago
Reply to the comment left by “Neil Patterson” at “29/03/2017 – 09:03“:
Thanks Neil