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Ken2000 said:I am aware that as a first time buyer of a new property I would be exempt from Stamp Duty, but the fact that it would not be my principle residence (possibly for up to 9 months after purchase) means that I would be liable.
ClubMan said:Are you sure about that? Can you point to any Revenue details on that?
There's a 12 month period after vacation of a former PPR before it becomes classed as an investment property and subject to CGT on part of the eventual resale gain. However allowance/exemption this is irrelevant to the situation in which an individual wants to buy a property now as a PPR but cannot occupy it until later on.bacchus said:No, i am not sure... I can vaguely recall a post few days/weeks ago (looked for it but did not find it, sorry) mentionning that a period of 12 months was given to change PPR and not pay CGT on sale of "former PPR". That was in the case where somebody sells his/her property (former PPR) after having bought an other house (new PPR).
Looks similar to Ken2000's case (though Ken2000 is not selling so CGT is not applicable) in the sense that he intends to move in no later than 9 months after having bought his house, i.e. within period normally allowed to change PPR.
Hopefully somebody will be able to confirm or deny this..
The issue was a Letting Off Steam issue and off topic in this thread so it was moved to the appropriate forum. Once you meet the criteria for posting in LOS you can rejoin the discussion. Please don't post any more about it in this thread or it will be deleted and you may be banned.Art said:Firstly I wanted to continue the discussion in the split threat but was prevented from doing so because LOS only allows posts from frequent users.
Moderators do not retain copies of posts that are deleted under the moderation policies of the site. Sorry.Secondly the response I made was specific to Ken2000's question -. I would be grateful therefore if you could resubmit my response. I suggest that if you have a problem with the response, you debate it with me in this thread where I am able to respond or at least paste it into the LOS section where Ken2000 can read it.
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