…will be extended in\nEngland and Northern Ireland to apply to all first-time buyers purchasing\nresidential property worth up to \u00a3500,000 through a qualifying shared ownership\nscheme. The relief will also apply to shared ownership property buyers who have\nalready paid SDLT on the initial equity stake and rental amount since the\nintroduction of the relief on 22 November 2017. They will have a year to make a\nbackdated claim for the relief. This measure will be effective from 29 October\n2018.<\/p>\n\n\n\n
Currently\nlettings relief<\/strong> can be claimed by\nindividuals who let out a property that is, or has in the past been, their main\nresidence. From April 2020, the government will reform lettings relief so that\nit is only available to individuals in shared occupancy with a tenant.<\/p>\n\n\n\n Currently,\nthe final period exemption<\/strong> means\nthat people do not have to pay CGT on gains made in the final 18 months of\nownership. From April 2020, the exemption will be reduced to 9 months. There\nwill be no changes to the 36 months final period exemption available to\ndisabled people or those in a care home. <\/p>\n\n\n\n Individuals\nwho replace their main residence can reclaim\nthe SDLT<\/strong> where the new home was purchased before selling the old, subject\nto the old residence being sold within 3 years of the new home purchase.<\/p>\n\n\n\n The residence nil-rate<\/strong> band (RNRB)\nincreases to \u00a3150,000 from \u00a3125,000 from 6 April 2019 and to \u00a3175,000 from 6\nApril 2020; allowing some couples to leave up to \u00a3950,000 to\nfuture generations free of IHT.<\/p>\n","protected":false},"excerpt":{"rendered":" …will be extended in England and Northern Ireland to apply to all first-time buyers purchasing residential property worth up to \u00a3500,000 through a qualifying shared ownership scheme. The relief will also apply to shared ownership property buyers who have already paid SDLT on the initial equity stake and rental amount since the introduction of the … <\/p>\n