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Where Taxpayers and Advisers Meet

Replacement of main residence for SDLT?

rajpal_bal
Posts:40
Joined:Tue Jun 08, 2010 11:27 am
Re: Replacement of main residence for SDLT?

Postby rajpal_bal » Fri Jan 12, 2018 9:12 pm

THank you for your comments all.

I am a beneficial owner so therefore if i dispose of my beneficial ownership surely thats a disposal for SDLT purposes.

I contribute to the upkeep of the hiuse since i am a trustee?

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Replacement of main residence for SDLT?

Postby bd6759 » Fri Jan 12, 2018 9:46 pm

You are not,

No it is not.

Despite being on the deeds, the property is owned by your parents. If it were to be sold tomorrow, they would keep the proceeds.

rajpal_bal
Posts:40
Joined:Tue Jun 08, 2010 11:27 am

Re: Replacement of main residence for SDLT?

Postby rajpal_bal » Sat Jan 13, 2018 12:49 am

A deed of trust would clarify that? Which would state my share = beneficial

SDLT Geek
Posts:232
Joined:Sun Apr 30, 2017 5:45 pm

Re: Replacement of main residence for SDLT?

Postby SDLT Geek » Sat Jan 13, 2018 10:12 am

But you are not a beneficial owner! That was established in a previous thread. To do a declaration of trust now saying that you have been a beneficial owner would be wrong.

rajpal_bal
Posts:40
Joined:Tue Jun 08, 2010 11:27 am

Re: Replacement of main residence for SDLT?

Postby rajpal_bal » Sat Jan 13, 2018 11:31 am

I Agree. I am just trying to understand the logic of the charge and how it may habe differed if my circumstances were different. It’s quite evident that I woudl have to pay the charge.


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