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Where Taxpayers and Advisers Meet

Search found 159 matches

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by SDLT Geek
Sat Jun 15, 2019 4:45 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp Duty and Chargeable consideration
Replies: 7
Views: 612

Re: Stamp Duty and Chargeable consideration

Thanks for posting the update.
by SDLT Geek
Fri May 31, 2019 6:13 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Yet Another Stamp Duty Land Tax Query
Replies: 3
Views: 145

Re: Yet Another Stamp Duty Land Tax Query

Yes, it seems the extra 3% will be due if you still own either of your other properties when the joint purchase completes (assuming they are worth £40k or more).
by SDLT Geek
Tue May 28, 2019 9:37 pm
Forum: Property Taxation
Topic: Joint Purchase Additional Rate SDLT Considerations
Replies: 1
Views: 80

Re: Joint Purchase Additional Rate SDLT Considerations

You could look into a joint borrower sole proprietor mortgage to fund the purchase. Your girlfriend would be accepting full liability on the mortgage without having any share in the property, so it might not suit her.
by SDLT Geek
Sun May 26, 2019 5:51 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Yet Another Stamp Duty Land Tax Query
Replies: 3
Views: 145

Re: Yet Another Stamp Duty Land Tax Query

You are likely to have to pay the extra 3% unless you can complete a purchase very quickly. Assuming you both meet the other conditions you would need to complete the purchase of a new home within three years of the earlier of: (a). Selling the previous home (July 2016) (b). Last having lived in tha...
by SDLT Geek
Thu May 23, 2019 8:13 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT Surcharge Query
Replies: 1
Views: 79

Re: SDLT Surcharge Query

If the flat in India is worth under £40,000 now then the extra 3% SDLT is not due on your purchase in England, but you will not qualify for first time buyers’ relief.

No documents about the Indian flat need to be sent to HMRC unless and until they ask for them.
by SDLT Geek
Tue May 21, 2019 7:48 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: LTD company SDLT Charge on existing property for BTL Mortgage
Replies: 2
Views: 106

Re: LTD company SDLT Charge on existing property for BTL Mortgage

SDLT will be due on the purchase of the next development site.

There should be no more SDLT due on the existing property the company owns; the remortgage transactions do not attract SDLT.
by SDLT Geek
Thu May 02, 2019 5:21 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Partial Sale to Son
Replies: 2
Views: 129

Re: Partial Sale to Son

It depends. If he buys a one quarter share and intends to live in the property as his only or main residence then he might be entitled to first time buyers' relief. A detailed paper accessible from this link https://www.blakemorgan.co.uk/news-events/blog/sdlt-first-time-buyers-relief/ deals with som...
by SDLT Geek
Sat Apr 27, 2019 9:19 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Advice please: SDLT on a joint purchase
Replies: 6
Views: 253

Re: Advice please: SDLT on a joint purchase

You could refer to the replies to the same question here https://forums.moneysavingexpert.com/showthread.php?t=5994585 from which it is clear that the partner does not have the means to buy the property alone anyway.
by SDLT Geek
Thu Apr 18, 2019 9:53 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Higher Tax on my first UK property
Replies: 1
Views: 123

Re: Higher Tax on my first UK property

Yes. If your let property is worth £40k or more now. Also assuming you are paying £40k or more for the new house. It might be different if you have sold a home abroad in the last three years: see the details here: https://www.zoopla.co.uk/discover/buying/stamp-duty-land-tax-3-surcharge-replacement-o...
by SDLT Geek
Tue Apr 09, 2019 9:16 pm
Forum: Property Taxation
Topic: second property SDLT - new PPR.
Replies: 1
Views: 130

Re: second property SDLT - new PPR.

The extra 3% SDLT would be due on the £200,000 purchase price of the new property.

Unless the £100,000 property is transferred to a limited company. Higher rates would then be due on the market value of that. Standard rates would then be due on the £200,000 purchase.

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