Stamp duty question

[sogroy]

I'm buying a flat for 187000 cash!After buying the flat i'm going to sell 50% to a friend...so he is going to pay me 93500!My question is....does he have to pay stamp duty on his 93500 buy amount?

Thanks

George

[section 44]

No!

He would, however, still need to submit a stamp duty land tax return!

[sogroy]

Thank you for your answer. Just a quick question - why is that? Is it because the £93500 is below the stamp duty threshold? And on that basis if I bought a place for £400000 and sold 50% to a fiend (hence they paid £200,000) then would stamp duty be involved then? - Thank you!

[section 44]

Is it because the £93500 is below the stamp duty threshold?

Yes.

And on that basis if I bought a place for £400000 and sold 50% to a fiend (hence they paid £200,000) then would stamp duty be involved then?

Yes.