First time buyer rate

[Generix]

Q1> Can you combine two first time buyer rates (i.e. two first time buyers both having a 50% stake in a £500k property, on basis of each of their interest is £250k - (have never read SDLT law so know nothing about this)?

Q2> Any feeling as to whether the first time buyer rate is likely to disappear in the coming budget?

[section 44]

Q1 - No.
Q2 - I am not aware of any such rumours.

[Generix]

Q1 - No.
Q2 - I am not aware of any such rumours.

Much appreciated.

I assumed as much for Q1 as it would be very easy to manipulate the system otherwise.

Any clever stuff that can be done around those properties that are just over the £250k limit?

i.e. property is on market for £260k, can I give them cash of £10k for something outside of the stamp duty regime and then pay £250k for the property?

[section 44]

Yes provided that there would be a just and reasonable apportionment (i.e. that what you are paying £10k for is actually worth £10k).

[Generix]

Yes provided that there would be a just and reasonable apportionment (i.e. that what you are paying £10k for is actually worth £10k).

Sorry to add more and more questions - last one I promise!!

Are there any obvious property related items that this could be allocated to which fall outside the scope of the stamp duty, i.e. white goods, freshly cut lawn (you can't put a price on that ), bath and sink units?

(I have no idea if those items listed are within the remit of SD - just listing things that could be taken by the seller etc.)

[section 44]

Anything that is a fixture (such as baths, sinks etc) forms part of the land and therefore liable to SDLT.

Carpets, curtains and chattels (beds, wardrobes, settees etc) may be worth considering.

[Generix]

Anything that is a fixture (such as baths, sinks etc) forms part of the land and therefore liable to SDLT.

Carpets, curtains and chattels (beds, wardrobes, settees etc) may be worth considering.

Thanks!