money from second home

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  • #23404

    having a ‘senior moment’ at present .. well seen it’s the beginning of a new year

    anyway, the question is: Can you confirm the time limit that capital received from the sale of a previous home is disregarded, AND, if the clmt has money left after the purchase of a new home, does the remainer of the money remain disregarded till the end of the initial period or is it counted as capital


    The time limit is up to 26 weeks, although this can be extended if the authority considers it reasonable to do so. I think you would be right to include any capital left over following the purchase of the new property as “ordinary” capital and thus subject to tariff income.

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