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Where Taxpayers and Advisers Meet

Search found 147 matches

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by SDLT Geek
Sun Mar 17, 2019 7:39 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Too late for reclaim for additional dwelling?
Replies: 1
Views: 63

Re: Too late for reclaim for additional dwelling?

This is a horrible trap you have fallen into. After some campaigning, the rules were changed to give more time to lodge a reclaim. That was done with effect from the 29 Oct 2018 Budget, but not with full retrospective effect. Your sale completed before the Budget, so the changes do not help you. The...
by SDLT Geek
Sat Feb 23, 2019 7:04 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp Duty and Chargeable consideration
Replies: 5
Views: 402

Re: Stamp Duty and Chargeable consideration

The share of the property being transferred in your case is 36%, so the proportion of the mortgage to be taken as chargeable consideration is 36%. "The share of the property" means what it is says! It is the share in the property which needs considering, even if the parties had agreed between themse...
by SDLT Geek
Sat Feb 16, 2019 4:04 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Keeping my old residence worth less than £40000
Replies: 2
Views: 121

Re: Keeping my old residence worth less than £40000

Yes. Condition C is not met if your existing property is worth under £40,000. So the extra 3% should not apply.
by SDLT Geek
Tue Feb 12, 2019 12:08 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Which property to sell to claim back additional SDLT?
Replies: 4
Views: 162

Re: Which property to sell to claim back additional SDLT?

Selling both flats in Property A should work, but you should not sell on a leasehold basis and retain the freehold.

An outright gift of either property A or B (but not to a spouse) should work if you retain no interest at all in it.
by SDLT Geek
Mon Feb 11, 2019 5:13 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Which property to sell to claim back additional SDLT?
Replies: 4
Views: 162

Re: Which property to sell to claim back additional SDLT?

Selling A or B entirely should entitle you to recover the extra 3% paid on C. You had both lived in each of A and B as your only or main residence at some point in the three years leading up to the purchase of C. It would not work to convert A into two flats and sell only one of them, it would not e...
by SDLT Geek
Mon Feb 11, 2019 1:58 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: An extra 1% SDLT surcharge for overseas buyers being proposed?
Replies: 13
Views: 1259

Consultation Paper is out An extra 1% SDLT surcharge for overseas buyers being proposed?

The Consultation Paper has been published, here is a link: https://www.gov.uk/government/consultations/stamp-duty-land-tax-non-uk-resident-surcharge-consultation
by SDLT Geek
Mon Feb 11, 2019 9:52 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: An extra 1% SDLT surcharge for overseas buyers being proposed?
Replies: 13
Views: 1259

Re: An extra 1% SDLT surcharge for overseas buyers being proposed?

Here is a link to a blog on some things to look out for when the Consultation Paper comes out, especially for returning expats. https://www.blakemorgan.co.uk/news-events/blog/non-resident-buyers-and-1-extra-sdlt/
by SDLT Geek
Sun Feb 10, 2019 8:31 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT - transfer of property from 4 people to 2 people
Replies: 3
Views: 144

Re: SDLT - transfer of property from 4 people to 2 people

I would expect this to be caught, either:
under the rules for linked transactions or
through a recharacterisation of what has been done into a single transaction.
by SDLT Geek
Fri Feb 08, 2019 5:47 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: An extra 1% SDLT surcharge for overseas buyers being proposed?
Replies: 13
Views: 1259

Re: An extra 1% SDLT surcharge for overseas buyers being proposed?

We had expected the Consultation Paper out by now, but there is no sign of it. One problem HMRC will face is what test of "residence" they will use. The Statutory Residence Test is normally determined for a whole year and sometimes it will not be known until well through the year what the outcome of...

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