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Where Taxpayers and Advisers Meet

Will Stamp Duty be Payable?

NickPrice
Posts: 17
Joined: Fri Sep 11, 2015 12:39 am

Will Stamp Duty be Payable?

Postby NickPrice » Wed Apr 11, 2018 2:56 pm

Hello,

A situation of 4 rental properties, each valued £140-180K. I wish to transfer 20% equity from each property to my daughter by way of trust deed. We want to do individual trust deeds for each property, whereby the 20% value assigned from each property will be less than £40K. If they all fall in the same tax year, will stamp duty be payable? If they fall in individual tax years, will stamp duty be payable?

Thanking you in advance.

SDLT Geek
Posts: 118
Joined: Sun Apr 30, 2017 5:45 pm

Re: Will Stamp Duty be Payable?

Postby SDLT Geek » Wed Apr 11, 2018 5:42 pm

If this is a pure gift with no sum payable, no debt assumed and no change in liabilities for debt then there is no "chargeable consideration" and no SDLT. But it could be different if the properties are subject to mortgage.

I expect you have thought of the situation should your daughter come to buy a home (not a first time buyer and the possibility of the higher rates for additional properties applying).


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