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Where Taxpayers and Advisers Meet
SDLT 50% Share
If one owns a property 50/50 with a friend and the friend decides to sell his share to the other. Will they have to pay stamp duty tax?
Re: SDLT 50% Share
If consideration passes from purchaser to vendor then in principle SDLT is payable by the purchaser.
If this is the only property owned by the purchaser then if the consideration is less than £125k then no SDLT is payable. Consideration includes the taking over of any mortgage.
If this is the only property owned by the purchaser then if the consideration is less than £125k then no SDLT is payable. Consideration includes the taking over of any mortgage.
