Second property SDLT

booksurr

Alec_85 wrote: »

I know a year isn't long term...


I want this to be long term, however if things just don't work out in the 1st year then I can re-evaluate, just like I will be doing continuously. I know I won't be able to walk away from the apartment for 20 years, come back to it, with the mortgage paid off and a stash of cash in my pockets. Ideally I'd the mortgage paid off.

politics means people's attitudes change and what is "unfair" to you seems perfectly fair to others in the current climate

for example I resent the fact that "I" (ie my late father's estate) paid over £100,000 in inheritance tax because when he died there was no spousal transfer of nil rate band. Had he died 15 months later the tax bill would have been zero because by then the rules had changed. So I have little sympathy for your wailing about a mere £6k when you received advance notice of the change and could time your transaction. "Unfortunately" I was unable to prolong the life of my father to benefit from the notice period, much as I would have preferred that outcome in all senses of that statement.

Alec_85

booksurr wrote: »

politics means people's attitudes change and what is "unfair" to you seems perfectly fair to others in the current climate

for example I resent the fact that "I" (ie my late father's estate) paid over £100,000 in inheritance tax because when he died there was no spousal transfer of nil rate band. Had he died 15 months later the tax bill would have been zero because by then the rules had changed. So I have little sympathy for your wailing about a mere £6k when you received advance notice of the change and could time your transaction. "Unfortunately" I was unable to prolong the life of my father to benefit from the notice period, much as I would have preferred that outcome in all senses of that statement.

I'd be hugely surprised (and disappointed!) that anyone felt that inheritance tax was fair!


I appreciate everyone's comments on this, but I am surprised that some people seem to resent me, I'm a very small fish, in a huge pond trying to do the right thing. FYI, I had actually started buying a property with 10 weeks to go until April (I'm chain free and the property is vacant), but then have come across an issue with the title plan (another thread in this forum) and that has caused such a delay that there's now no chance in completing before April!

Pixie5740

It could be argued that if things were fair IHT would be 100%.