Property exchange between spouses.

[Peter J.L.]

OK, fair enough. I think the 50% may be a route. It works well enough with our intentions. You say the 50% would be below the threshold - so it would not even be !% ? (The value would be approx £185,000) ie NO SDLT to pay? We would certainly be pleased to achieve that. Thanks for your responses on this by the way - if you're able to confirm this last point that would be v. helpful.

[section 44]

The SDLT 1% threshold is over £125,000. Provided that the 50% interest is worth less than this, no SDLT is payable.

[Peter J.L.]

Thankyou Section 44. Don't think the haves get it down to £125,000, but great improvement on previous sitch.

If anything else occurs to you please let me know.

And if anyone else has any other thought - please say.

[Peter J.L.]

Ah - I'm being dim and not considering - the half of EACH is below £125,000. Not the total. Sorry and thanks.

[section 44]

Correct. There are two transactions, each with a separate purchaser.