I've been pondering this on and off for a while and can only assume I'm missing something obvious but what is the point in the change to lettings relief due to come in from April 2020?
The measure restricts lettings relief to those who are in shared occupancy with a tenant. Surely if you still live in the property then you get PPR relief, so lettings relief isn't necessary?
Doesn't the change just serve to remove lettings relief entirely? Under what circumstances will it be applied?
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No, think this is the only pic I've ever had on my account! What can I say, maybe he's shy and doesn't always pop up next to my posts?
Well we are yet to see the detail however I think it may come down to HMRC's 1 room let all PPR, 2+ rooms not all PPR approach.
And there was me, with both offspring firmly back at home,thinking that if they do not fly away soon I will need to encourage them to depart by charging them rent!!!!!
So having read your link, as long as I do not cede the other two upper rooms to them to create a distinct flat (there is a door downstairs that opens to the stair up) should still be okay? Neighbouring houses have, over the years , been converted into three distinct flats.
I had been thinking at some point (if we stay) of creating a kitchen and bathroom from the other rooms up there so the younger one (less likely to depart) would not have/need access to the ones we use downstairs- neither learned to load a dishwasher or clean anything at university and their rooms are beyond description.
So far they have annexed their two bedrooms, another room upstairs as their sitting room and our downstairs study is now nearly out of bounds to my wife and myself (Daughter doing her MSc).
With my practice winding down my upper study could also come under threat and my workroom , a large cupboard , suitable to be converted to a kitchen, where my workbench,tools etc currently reside could also succumb.
Think I need to divide and rule by persuading the older one to go and buy himself somewhere to live before my resistance is totally overcome and we end up living in a bedsit downstairs with the kids controlling the rest of the house.
Sounds like the plot of Star Trek: First Contact.
If only you could go back in time, to stop the invasion commencing....
If I could I would be very, very , wealthy and likely retired.
I have considered what might have been, other half remaining full time as a very overpaid Quant Analyst and no nursery costs and my role continuing in practice; mortgage would have been cleared by circa age 42, I suspect other half would have taken offered move to London circa 2000/2001 when Edinburgh operation closed , we would have carried on eating out 3-4 times a month living in our large three bed flat 14 minutes walk from the centre of Edinburgh and would have had longer haul foreign holidays and flashier car- the three bedrooms would have still been needed given the clothes my other half would have continued purchasing etc-still, they were cute when they were young.
Or... you could have drawn the boundaries earlier.
"Thus far, no further" - which you might attribute to Captain Jean Luc, Captain Ahab or Job, depending on your age.
"Just when I thought I was out, they pull me back in!"
They both disappeared away from home, catch is post university they returned.(At least with younger one she has excuse as she is still studying, but in Edinburgh, not St Andrews)
Talking with friends with similar age offspring the trick is pack them away to uni then when they are there sell home in city, buy something in country outside with no nightlife /social life, fait accompli, they will not want to return.
