Letting a house

[deesmith]

A friend of mine bought a house which he intends on renting out. He is a first time buyer. He heard that he had to own the house five years before he can rent it out?

Also he wants to register for tax purposes on rental income, can he do this if he has not yet paid over the stamp duty due on the house?

 

[pc7]

he will have to pay the stamp duty claw back as its not his primary residence for the first 5 years, i've seen a few posts regarding this on the site that might help

 

[ClubMan]

This stuff is covered many times before. Search/browse for existing threads. Here's a brief summary of the potential implications.