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Due to Marry in Summer - Advice Needed
angelavdavis
Posts: 4,714 Forumite
in Cutting tax
Hello everyone,
Hopefully someone might be able to assist me.
My OH and I are intending to get married in summer.
I have a house (which is mortgaged) which I would like to keep if possible that my retired parents and unemployed brother currently live in (my parents put their equity into the house but I pay all bills - my parents contribute extra when they can but I don't charge rent or anything). This is my only property.
I have been living mainly at my OH's house and we go back to the other house (which is by the sea) at weekends. We are intending eventually to upsize my OH's house but are in no real rush to do this.
We are intending on keeping the properties in our own names after we marry, (I need to still give my parents some security so will be changing my will to ensure my parents don't become homeless should anything happen to me after I get married) but I am confused about getting married and whether I will lose my capital gains tax position for my own house should I decide to sell later.
I don't intend to change my address to my OH's, although my OH has declared that I live there part time so now pay council tax in two locations as I am "borderline" permanent resident (I live here two days a week a lot of the time because I work away but sometimes end up working at this house for five days a week - hence being borderline).
My cousin says we have up to two years after getting married before we lose the status.
Anyone have any idea of what my position will be? Thanks very much.
Hopefully someone might be able to assist me.
My OH and I are intending to get married in summer.
I have a house (which is mortgaged) which I would like to keep if possible that my retired parents and unemployed brother currently live in (my parents put their equity into the house but I pay all bills - my parents contribute extra when they can but I don't charge rent or anything). This is my only property.
I have been living mainly at my OH's house and we go back to the other house (which is by the sea) at weekends. We are intending eventually to upsize my OH's house but are in no real rush to do this.
We are intending on keeping the properties in our own names after we marry, (I need to still give my parents some security so will be changing my will to ensure my parents don't become homeless should anything happen to me after I get married) but I am confused about getting married and whether I will lose my capital gains tax position for my own house should I decide to sell later.
I don't intend to change my address to my OH's, although my OH has declared that I live there part time so now pay council tax in two locations as I am "borderline" permanent resident (I live here two days a week a lot of the time because I work away but sometimes end up working at this house for five days a week - hence being borderline).
My cousin says we have up to two years after getting married before we lose the status.
Anyone have any idea of what my position will be? Thanks very much.
Thanks to MSE, I am mortgage free!0
Comments
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For council tax, you need to decide which home is your sole or main residence, ie that at which you normally live - if this is your OH's house, then he will lose any 25% single person discount he has and you will then need to pay a second home rate on your own house.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0
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Thanks for this, but I can't do this because my parents are full time in the house in St Leonards -effectively they are both occupied for majority of the week. My OH has declared me living there because my occupancy is deemed "borderline". I am not intending on changing my address to my OH's house for the time being anyway. Thanks to MSE, I am mortgage free!0
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My advice is don't.
HTH
Only when the last tree has died
and the last river has been poisoned
and the last fish has been caught
will we realise we cannot eat money0
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