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How can I raise funds
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Not really against renting it out I suppose. Just worried about getting the right tenant, as well as the fact that if it was empty It would give me plenty of time to do it up to my reuirementsCan I ask why you would not consider renting it out? I don’t know your local rental market, of course, but it’s likely that the rent for 3 years would cover the stamp duty several times over. Besides that the tenant would have to pay the council tax and utilities.I started out with nothing......And still have most of it left:p0 -
Sorry, I read SDLTGEEKS post but didnt grasp what it meant but I'm getting it now. So in reality I would be better letting it out. I couldnt reclaim the SDLT but this would be offset by the rent for 3 years which would also help cover other billsyou have been given the answer by SDLTgeek above
to reclaim higher rate SDLT you have to meet conditions:
- the place purchased has to be a main home (not a let property)
- the place sold has to have been sold within the relevant timescale
- the refund claim has to be made within the deadline for doing so having met the first 2 conditions
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09765
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09812
https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09805I started out with nothing......And still have most of it left:p0
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