Katherine10_8
Joined: 8/26/2023
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Buy and sell property
Hi My husband do have a property outside UK that his mum and sister are living in ( my husband owns half of it and half own by his sister). We don’t plan to sell it. We are now planning to buy a house for us to live in UK, it will be under my name, I am a first time buyer. may I ask: 1) if the property is £300,000 , do we need to pay tax like £250,000x3%+£50,000x5%? Or only £250,000x0%+£50,000x5%? Or 0%tax because I am first time buyer. 2) when we sell our UK home in future, do we need to pay CGT? What if we just want to change our place ? Do we need to pay CGT and SDLT ? Thanks in advance