Similarly, a home that’s bought with land as an funding with the hope of selling that land for a profit later is unlikely to meet this check. These exams ought to apply to how the vendor of the property used the land.
This property is prone to be viewed as not suitable to be used as a dwelling and chargeable to the non-residential charges of LTT. As the property requires extensive rebuilding of its structure to make it protected to stay in, this property is more likely to be seen as not appropriate to be used as a dwelling and chargeable to the non-residential charges of LTT. On the efficient date of the transaction, the farmhouse had severe structural damage and required changing of a number of the timbers supporting the property.
If, in shopping for the static caravan, the taxpayer additionally enters into a lease of a piece of … Read More