This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Mutiple residences

Joni__6
Posts:1
Joined:Sun Dec 19, 2021 4:41 pm
Mutiple residences

Postby Joni__6 » Sun Dec 19, 2021 4:51 pm

Question on understanding tax implications

Me and My Partner jointly own

2 BTLS and our Own Residential property

One of the original btl (our 2 bed flat) was originally purchased by myself and we both used to live there before letting it out.

Flat purchase year 2007 Leasehold
Own house purchase 2013 Freehold
New BTL house purchase 2016 Freehold

We want to ideally leave London and dispose of the flat to buy a new place to live in. While converting our existing residential into a BTL and let out. What considerations do we need to take, to keep this new purchase SDLT lowest.

Do we need to live in our flat for 6 months before disposing ? Reason for disposing the flat is because of service charges, long term yield and growth isn't meeting expectations. While the the houses are performing much better on all fronts. Any help and advise much appreciated

Joni

Return to “Property Taxation”