Stamp Duty Between Spouses

[michael@focusuk.co.u]

If one spouse owns a property outright (value £245K) and the other a similar property outright (value £259K), both have personal loans rather than mortgages on them (though on a similar basis to a mortgage).

If they change ownership from single ownership to joint ownership will they be liable to Stamp Duty on the change in ownership to joint on both properties?

Thanks

[cranleys]

Michael

Stamp duty will only be payable if there is some consideration changing including the variation on the loans. It looks like it is unlikely.

Colin Davison
colin@cranleys.co.uk
www.cranleys.co.uk

[michael@focusuk.co.u]

Thanks Colin

They have increased the loans slightly (in faact are now arranging a propert mortgage for the same amount as the original loan outstanding bar one which is increasing by about £2K

Is there any revenue leaflet on the subject

Thanks for the speedy response

Michael