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If I have a rental house in Isle of Man which is British Isles, buying a house in UK, would I get charged 2nd stamp duty

LANDLORD FORUMCategory: LettingIf I have a rental house in Isle of Man which is British Isles, buying a house in UK, would I get charged 2nd stamp duty
Michele Carter asked 2 months ago

Hello I was born in UK but have lived thirty years in Isle of Man, which is British Isles.

So have the house that I live in and a rental house in Isle of Man.

If I were to buy a house in mainland UK, for example Bristol, then would I have to pay the 2nd property stamp duty?

So when you are a landlord in UK, what do you have to do? 1. Do you have to register with a Landlord Scheme and if so what fees and what things do they insist you do? 2. Do you have to use letting agents and if so are they respons

Michele Carter replied 2 months ago

sorry the screen went funny and did not have time to finish off the last para, so will carry on ….. so are they responsible for making sure that the rental house adheres to all the rules and regs that are needed and that the tests if needed are carried out on time, that rent is paid in on time, etc? Is there extra tax if you are a landlord, just not sure about being a landlord in UK what it involves or costs, thanks Michele

1 Answers
Marc Attwater Staff answered 2 months ago

Yes you have to pay stamp duty, however the chancellor has announced breaks on the stamp duty, visit HMRC website.

what you need to know about becoming a landlord: https://thebla.co.uk/is-it-worth-being-a-landlord-in-2020/

https://thebla.co.uk/renting-out-a-property-for-the-first-time/

Best of luck!

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