Dear all,
I caught up with some new guidance on stamp duties, and it must have escaped my attention before: https://www.gov.uk/guidance/stamp-duty-land-tax-transactions-that-dont-need-a-return
My understanding was that transactions without consideration was previously SDLT exempt for inter-spouse transfer only, but now it appears to apply for all, regardless of the value of the asset (previously below 40K threshold would have been exempt)? Hence, one can now transfer an property of any value to anyone (for example, one's child) and they would not incur SDLT, it appears? Do correct my understanding, if I have overlooked something.
Thanks.
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