What's the plan Stan?

CLAPTON

danothy wrote: »

Having just read through this entire thread I'm still none the wiser as to what the plan is. Even the bat-drat crazy Scottish nationalists could point their finger at what they were going to try to leverage to fund their isolationist dream.

the plan will be available in about 6 weeks although sometimes deadlines are missed.

kinger101

The plan is a tug of war between between whoever becomes the next PM and 27 heads of EU countries.

chucknorris

My facts are sound, I previously read the thread and my facts are 100% correct, you did believe that your wife's main residence was the property that she rented out, You actually believed that because she was not on the deeds of your house, that it couldn't be her main residence, instead of thinking 'how on earth could her main residence be a property that she rents out, and doesn't actually reside in!

lovinituk

chucknorris wrote: »

My facts are sound, I previously read the thread and my facts are 100% correct, you did believe that your wife's main residence was the property that she rented out, You actually believed that because she was not on the deeds of your house, that it couldn't be her main residence, instead of thinking 'how on earth could her main residence be a property that she rents out, and doesn't actually reside in!

(Text removed by MSE Forum Team)

I was asking because I didn't know and was confused by the new regulations and terms. Turns out when we move house we WON'T be liable for the additional stamp duty. So the outcome was what I hoped but for different reasons to what I first thought...

https://forums.moneysavingexpert.com/discussion/5426616

Next!

chucknorris

You still don't get it do you? Even after reading my previous post! It isn't so much about the stamp duty, it is the fact that the other property will be liable for CGT, whereas previously you thought it was exempt as a 'main residence'. :rotfl: I can't believe that even after reading my post that still went over your head.

lovinituk

chucknorris wrote: »

You still don't get it do you? Even after reading my previous post! It isn't so much about the stamp duty, it is the fact that the other property will be liable for CGT, whereas previously you thought it was exempt as a 'main residence'. :rotfl: I can't believe that even after reading my post that still went over your head.

It was nothing to do with CGT. I've always known that my wife will be liable for CGT on the sale of the flat. I believe it was even pointed by someone that the 'main residence' term was different for SDLT+ and CGT. Could you point me to the post that says otherwise and I will gladly apologise.

chucknorris

lovinituk wrote: »

It was nothing to do with CGT. I've always known that my wife will be liable for CGT on the sale of the flat. Could you point me to the post that says otherwise and I will gladly apologise.

She wouldn't have to pay CGT if it was her main residence, which you claimed that it was. This isn't rocket science you know.

Yolina

lovinituk's wife being liable for CGT is the plan? :eek: :eek: :eek: we is saved I tellz you

lovinituk

chucknorris wrote: »

She wouldn't have to pay CGT if it was her main residence, which you claimed that it was. This isn't rocket science you know.

I didn't claim it was her main residence. I asked if it could be for the purposes of SDLT+ only, which someone else pointed out is different to the definition of main residence for CGT. I had no idea which is why I was asking for advice.

chucknorris

lovinituk wrote: »

I didn't claim it was her main residence. I asked if it could be for the purposes of SDLT+ only, which someone else pointed out is different to the definition of main residence for CGT. I had no idea which is why I was asking for advice.

But you said this:

lovinituk wrote: »

I think the problem is that our main home can not be classed as my wife's main residence as she is not on the deeds. This is where I was going wrong previously and assuming it WAS her main residence.

Of course it is your wife's main residence, what property did you imagine could possibly be your wife's main residence, other than the other property that she owned and rented out. Either way you completely misunderstood the situation (in a way that someone who was not quite PC might call idiotic). And if it wasn't her main residence CGT would not be payable, you can't have it both ways.