Dear Mr Sawa
My original request is as below
You mention that moving in the property for three months would qualify it for the "36 months rebate". Is the Inland Revenue that "gullible", is there not some small prints that would penalise me because it would be seen as some form of tax evasion manoeuvre. Moving in the flat would be quite easy for me for 3 months.
What I did not mention is that the property is jointly owned by myself and a friend.
(1) Should only one of us move in there for 3 months to qualify for the "36 months rebate" or both of us?
(2) If only myself move in for 3 months, would the rebate apply only to my "share" of the profit on the sale of the flat?
I would value for advice.
Cheers
Peter Mann
I purchased a flat two years ago and has been renting it since. The value over these two years has gone up by £20,000 or so.
My questions are:
(1) I am eligible for the "36 months rule" exemption that I've read about in the other questions on this discussion board?
(2) If its only applicable for properties that have been owner-occupied at some point, does it mean that if tomorrow I decide to move into that property, that exemption would then apply to me.
Cheers
Peter Mann
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