House valuation for a house swap

[claral944]

Hi,

I have researched in to the house swap scenario and i think i am correct in saying that stamp duty is now payable on both properties when the swap takes place.

However, if my house is worth 180,000 and the house i want to swap is worth 300,000 what is to stop me dropping the values of both properties by say 50, or even 100,000 pounds so both parties pay stamp duty on a reduced value property? Who checks the initail valuation of the properties?

many thanks

[Ian McTernan CTA]

I hardly think the vendor of the property is going to want to receive £50-100K less for their proeprty than it is worth, which would put a huge spanner in your plan.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com