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Where Taxpayers and Advisers Meet

Additional rate on main residence

sophierussler
Posts:1
Joined:Wed Sep 19, 2018 1:55 pm
Additional rate on main residence

Postby sophierussler » Wed Sep 19, 2018 2:02 pm

Hi all,
I live with my fiance in a property owned by me. We both own other property.
I realise that if we sell the current property and buy another then we will be liable to the additional rate (due to him gaining a property).
And I also believe that if I try and add him to our existing property he will be liable to pay stamp duty (is this true?).
However, we are soon getting married and wondered whether this changes anything.
For example, does it then mean our residence is effectively jointly owned anyway?
Or does it at least make it easy for me to add him to the ownership without paying additional stamp duty?

Any help would be much appreciated - HMRC are refusing to offer any guidance over the phone!

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Additional rate on main residence

Postby maths » Thu Sep 20, 2018 8:53 pm

It all depends upon what you are trying to achieve.

Any gift of an interest in your current property in which you both live is free of SDLT if it is a gift (ie no consideration); this applies whether married or not.

If, for example, you intend to sell your property in which you both live and then you purchase another property in which you will both live then the 3% SDLT charge would not apply.This applies if you remain unmarried.
If you marry and you sell your property and you both jointly purchase a new property to live in then again no SDLT 3% charge on purchase.


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