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Where Taxpayers and Advisers Meet

Is SDLT return required for gift?

trainline
Posts:16
Joined:Sat Oct 02, 2021 4:25 pm
Is SDLT return required for gift?

Postby trainline » Wed May 11, 2022 7:17 pm

Good evening,

Scenario is this: a couple of relatives gifted 50% of a residential freehold property equally to my three adult children. On a current market value this is worth £46,666 per child. No payment or other financial consideration was paid, there is no mortgage or any other obligation.

Reading the SDLT guidance I believe no return is required but the relative’s solicitor thinks a return is required though there is no SDLT to pay. We can’t get through to the helpline at all!

Can anyone offer a definitive view on this?

Thanks
T

AGoodman
Posts:1416
Joined:Fri May 16, 2014 3:47 pm

Re: Is SDLT return required for gift?

Postby AGoodman » Fri May 13, 2022 2:36 pm

"You do not have to pay SDLT or file a return if:

no money or other payment changes hands for a land or property transfer"

https://www.gov.uk/stamp-duty-land-tax/reliefs-and-exemptions

No obligation to file a return: see item 1, section 77A(1), Finance Act 2003

AGoodman
Posts:1416
Joined:Fri May 16, 2014 3:47 pm

Re: Is SDLT return required for gift?

Postby AGoodman » Fri May 13, 2022 2:37 pm

You likely still have to file a CGT return


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”