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You should have paid SD on this since it was not an owner occupied PPR as you already had one. This SD liability is outstanding. Your solicitor really should have apprised you of the facts here. You need to sort this liability out ASAP.However, I bought another house 1.5 years ago and did not pay stamp duty as it was under 125 sqm and was in a new development.
No - as long as it was always your PPR and you sell it within 12 months of vacating it.I put my original property ( the one i bought 4 years ago) up for sale 6 months ago and moved into my new house. It has only now come to sale agreed. Can anyone please advised if I am liable for CGT?
I'm not sure this is true from the facts given. If the OP always intended it to be her PPR and didnt rent it out then why would she be liable for SD on it?You should have paid SD on this since it was not an owner occupied PPR as you already had one. This SD liability is outstanding. Your solicitor really should have apprised you of the facts here. You need to sort this liability out ASAP.
I'm not sure this is true from the facts given. If the OP always intended it to be her PPR and didnt rent it out then why would she be liable for SD on it?
As far as I know if you have a PPR and buy another property which does not become your PPR immediately (and certainly before c. 18 months have elapsed) then you are liable for SD on the second purchase. Where does that two years come from? Are you perhaps thinking of the 12 months that you have to dispose of a former PPR before it becomes liable for CGT?A person is entitled to take a reasonable time (I think 2 years) to transfer houses. You do not have to have one sold before you buy the other to avail of the relief.
I think that all is well.
Can somebody point to authoritative details of this "reasonable period"?
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