Stamp duty on 2 Houses/TRS on 2?

J

johnboy

Guest
Anyone know if there is a restriction of tax relief at source on a mortgage for a second property? First property is investment and second to live in.

Also as a first time buyer, paid no stamp on first house.. now rented, so subject to claw-back of stamp.
Second home will be owner occupied and is below 125m2 so should not be subject to stamp, any restrictions on not paying the stamp a second time??
cheers
 
Anyone know if there is a restriction of tax relief at source on a mortgage for a second property?

[broken link removed] only applies to owner occupier mortgages so it's irrelevant to an investment property. Note however that 100% of interest on an investment mortgage can be offset against as an allowable expense.

Also as a first time buyer, paid no stamp on first house.. now rented, so subject to claw-back of stamp.

This is correct assuming the property was rented within 5 years of purchase as an owner occupier.

any restrictions on not paying the stamp a second time??


I don't understand the question in the context of that sentence - perhaps you can clarify. If the second property is new then there is no stamp duty liability so I don't understand the issue.
 
it looks like the stamp duty will not apply now on the new house. Have to speak to my soliciter to confirm.

thanks for the reply!