ftb stamp duty clawback

[dewdrop]

i think i have a reasonable grasp of this issue..you can sell the house but within 5 years you cannot rent it other than rent a room scheme.my query is say if there is 2 years to run and i need to sell but becasue of the market a sale most likely will not take place for maybe 2 years what is my situation. do i have to leave house vacant having moved to another job location. i know i cannot rent and i recall that in order to rent a room you must be in occupation. one final question am i right in saying that the abolition of stamp duty for first time buyers does not remove the restrictions re renting in first five years.

 

[coolhandluke]

You are right with most of it,but you can sell anything at the right price !.

 

[ClubMan]

my query is say if there is 2 years to run and i need to sell but becasue of the market a sale most likely will not take place for maybe 2 years what is my situation. do i have to leave house vacant having moved to another job location. i know i cannot rent and i recall that in order to rent a room you must be in occupation.

Yes - to avoid the SD clawback you must not rent it out.

one final question am i right in saying that the abolition of stamp duty for first time buyers does not remove the restrictions re renting in first five years.

Correct. The clawback remains.

 

[webtax]

becasue of the market a sale most likely will not take place for maybe 2 years what is my situation.

If you sell the house within a year of when it ceases to be your PPR you are exempt from cgt - if you wait longer you may have partial relief instead.