I bought a house in 2004 with the intention of living in it but rented it out about 6 months later. It has been rented out ever since. I have paid taxes on the rental income (form 12) but would not have paid any stamp duty at the time of purchase.
My understanding is that I probably owe stamp duty as I did not live in it for 5 years before renting out. Is this correct? Also, is there anyway I can find out how much I owe and when I would need to pay it? Will it be when I am selling the house?
My understanding is that I probably owe stamp duty as I did not live in it for 5 years before renting out. Is this correct? Also, is there anyway I can find out how much I owe and when I would need to pay it? Will it be when I am selling the house?