marathonic
Registered User
- Messages
- 122
It was you PPR as far as revenue are concerned, you never let it out and more importantly you resided there. The property was never treated as an investment property,You took out a residential not a commercial mortgage. Don't make a mountain out of a mole hill.
Personally I'd live in it for a couple of months and then sell if I had to. There is no capital gains tax on a PPR and, as far as I'm aware, no actual time limit on when you can sell. It's probably better to move in and have utilities put into your name, just in case it's ever checked in the future.
Why would stamp duty at investors' rate apply? The OP built the house. He did not buy it.
The OP would do well to heed this advice with caution. If he is not genuinely living in the house, and this fact becomes apparent to the Revenue for some reason, they may well ask him some awkward questions. By the time any queries arise, the situtation will already be at a stage where the OP would be facing the possibility of interest & penalties on top of a tax arrears settlement, if things went the wrong way for him.
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