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Where Taxpayers and Advisers Meet

Selling first hime...moving into second home

Joined:Fri Mar 17, 2017 12:12 am
Selling first hime...moving into second home

Postby Tingly » Tue Nov 16, 2021 8:03 pm

Good evening,

I am thinking of downsizing in a few years and buying a holiday home now (double stamp duty) , in order to move into later.
Other than the double stamp duty on the new holiday home, what other taxes might i be hit with?
I have lived in my residential property for 40 years, am not quite ready to downsize yet, but thought about buying somewhere smaller now to use as a weekend place, in order to gradually get used to a different location/smaller place etc

Amy thoughts will be welcome


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