In the UK, individuals benefit from Principal Private Residence (PPR) relief. This allows individuals to sell their main home and pay no capital gains tax, assuming a few conditions on occupation are met.
Unfortunately, the Americans amongst us have another set of rules to play by. The Internal Revenue Service (IRS) has a worldwide reach on US citizens’ tax affairs, and the gain made on the sale of the family home, i.e. the main residence, is potentially subject to capital gains tax in the US.
The government has confirmed that home buyers will not pay stamp duty on any home up to the value of £500,000. This is the latest in a number of measures designed to reduce the economic impact of the coronavirus crisis and ensure that young people, in particular, are not locked out of the housing market.
Mortgages are there to help cover the considerable costs involved when buying a home. The good news is that UK residents have access to a wide variety of mortgages. As a result, you must be aware of all the options before you apply for one. They have different features, which means one may benefit you more than others.
The Right to Rent scheme is a government policy in the United Kingdom that requires landlords to check the immigration status of prospective tenants to ensure they have the legal right to live and rent property in the UK. This guide aims to provide information on the Right to Rent checks, including the use of share codes, and what you, as a tenant, need to know and prepare for when renting a property.
