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Where Taxpayers and Advisers Meet
Additional owner SDLT
My son is sole owner of a house. It is mortgage free. If he now includes me as a joint owner without any payment or consideration, will there be any SDLT to pay. I will continue to live in my current home which I own.
Re: Additional owner SDLT
SDLT is charge on chargeable consideration. As there is none, then no SDLT payable.
CGT relevant if son doesn't live in the property (or hasn't always lived in it) and the transfer to you involves a transfer of beneficial ownership (ie he's not justing adding your name to the legal title).
CGT relevant if son doesn't live in the property (or hasn't always lived in it) and the transfer to you involves a transfer of beneficial ownership (ie he's not justing adding your name to the legal title).
Re: Additional owner SDLT
Thanks for a clear reply. I was hoping that would be the case.
