SDLT and CGT

Jet

My position is that I owned 4 properties.  All 4 were rentals.  Last year after splitting with my partner, I evicted the tenants from 1 property and moved into it.  I now want to move house. 

My first thought was to sell a house I inherited that is in poor condition and a long way from me (but more expensive area) so it's not easy to manage as a rental.  It would probably give me enough money to buy what I need.  My understanding is that the government is going to make it compulsory that all rentals are an EPC of a C.  The house I am currently living in has an EPC of a C.  The other 3 are all Victorian end terrace and have EPC's of E's currently.  It is unlikely they will ever be a C without significant investment in external wall insulation which I am unable to fund so I may need to sell.  Ideally I would like to keep the one I am living in and rent it out again.

However, am I correct in understanding that if I buy a main residence but don't sell my current main residence but do sell another property that I will trigger the higher rate of SDLT? Would I still trigger the higher rate of SDLT just because I have other properties anyway?  If I moved into the rental I want to sell, would this not trigger the additional SDLT?  

I'm thinking I might need professional advice on this, who should I speak to?  An accountant? A solicitor? Financial adviser?

Thanks.

silvercar

You would need to move into the rental that you want to sell to avoid the higher rate SDLT. Selling the rental could trigger CGT on the sale, depending on the numbers.

Keep_pedalling

How long ago did you inherit the property? If it is fairly recent then, unless it was undervalued for probate, there should be little to worry about as far as CGT is concerned. 

Jet

silvercar said:

You would need to move into the rental that you want to sell to avoid the higher rate SDLT. Selling the rental could trigger CGT on the sale, depending on the numbers.

This was my thoughts.  It's very frustrating as moving house is stressful and quite frankly I don't think I can cope with it right now, but the end result is the same.  I am selling 1 house and buying another.

Jet

Keep_pedalling said:

How long ago did you inherit the property? If it is fairly recent then, unless it was undervalued for probate, there should be little to worry about as far as CGT is concerned. 

It's been 5 years so there will be some to pay.