Clause 21???

Discussion in 'Finance, Property, Law' started by old_bloke, Jul 11, 2005.

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  1. Remember back in the day a clause 21 iI think???

    It was a (myth ? ) ref the rights of a serviceman to buy a home with the intent to retire to that home. The clause ,as I recall/believe was ...

    Service pers due to the fact of posting etc can buy a property (a property-not two) without the need to live in said property .
    It the property is rented out there will /is/cannot be any rights for the tenants to claim "squatters" rights?

    Anybody heard of something such as this?
  2. Old Bloke,

    I was just about to post something similar on the original thread and i think you are correct, it also covered i think, as long as when you purchased the property you intend to live in it after service and you sold it instead, you were not eligible for Capital Gains Tax. If you had more than one property, i seem to remember that you paid a sliding scale of tax. A friend of mine had property and was in the same situation as ipaq, he phoned the tax people and they gave him the the regulations.