TRS for separated people

[Apollo]

Hi Folks,

A few years ago separated people could be treated as FTBs provided they met certain criteria where were(if memory serves correct):

1. The family home was their PPR.
2. They no longer held any beneficial interest in the family home.
3. They don't have any other interests in other properties.
4. They have obtained a separation agreement.

Is this still the case?

If for example a person was married for 5 years and was a mortgage holder for this time can they now qualify, assuming the above criteria are met, for trs at the FTB thresholds, i.e. get more relief than a non first time buyer for the next 7 years or so?


Thanks in advance.

 

[plant43]

As far as I am aware, the rules above only apply for the purposes of Stamp Duty, I think the rules for TRS are that once you have used up your seven years, that's it.

However, in the case above, it should be possible to get the final 2 years of FTB TRS applied.

 

[Apollo]

Thanks plant43..I might buzz the revenue tomorrow & clarify it..I will post my findings here