Since the house was rented out as described above then surely (a) a clawback of stamp duty may apply (not sure if it applies in the case of new build PPR being rented out within 5 years?)
As far as I know you don't. My point is that the SD clawback may still apply if you build a PPR and then rent it out within 5 years. I'm not sure. Certainly that rule applies when you buy a PPR and then rent it out within 5 years so I'm not sure why self builds would be an exception.Do you pay stamp duty when you new-build yourself ? I thought not.
As far as I know you don't. My point is that the SD clawback may still apply if you build a PPR and then rent it out within 5 years. I'm not sure. Certainly that rule applies when you buy a PPR and then rent it out within 5 years so I'm not sure why self builds would be an exception.
Ah - I see. Thanks for that explanation.Self builds are an exception because there was never any stamp duty assessable as there was no contract to transfer ownership of the house.
Seems like an odd exception?The full PPR exemption will apply, even if the house was rented out, provided he lived in the house immediately before and after he worked abroad.
Self builds are an exception because there was never any stamp duty assessable as there was no contract to transfer ownership of the house.
The full PPR exemption will apply, even if the house was rented out, provided he lived in the house immediately before and after he worked abroad.
Thank you for the advise far cheaper and more intuitive than an accounting firm with Disclaimers !!
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