Second Home Laws

[waterbitch]

We have a house we rent out,this gives us some income,now we wish to buy a home for us to live in permanently while keeping the house we rent out, will we be liable for this extra stamp duty on the place we buy?We realize that when we come to sell the place we rent out we'll have to pay capital gains on it.We're currently in rented accommodation.
Be grateful for any advice.

[VHG]

If you hurry you may beat it.

It does not come in until April 2016.

[Peter Pedant]

No the word in the lobby of the House of COmmons this week was that if you bought a house to live in - then you would NOT be liable to the newish tax

so you can take your time

the devil is in the detail of course but that is the position at the moment
You have at some time to deem which is your principle residence and presumably you have not deemed the rented house as such

[Peter Pedant]

the advice was that if you buy an extra house you should live in it
I am not sure how long for - up to a year I would have thought

[waterbitch]

thanks guys,so looks like we can take our time looking for a new home then. Great