This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Search found 161 matches

Go to advanced search

by SDLT Geek
Mon Jun 24, 2019 7:54 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Which is the main residence?
Replies: 9
Views: 105

Re: Which is the main residence?

These comments might help: 1. There are special rules for capital gains tax which can mean that a married couple can only have one main residence between them. These rules are not replicated for SDLT. 2. It is possible, though it will be unusual, for a married couple (who are not separated in a rela...
by SDLT Geek
Fri Jun 21, 2019 7:47 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: definition of main residence for stamp duty
Replies: 2
Views: 88

Re: definition of main residence for stamp duty

As bd6759 says, your residence is where you live. There are some rules about deemed residence for capital gains tax, but they are not carried forward to SDLT. So if you still own the let property when you buy, the extra 3% will be due and will not be recoverable.
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: 672

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: 163

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: 90

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: 163

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: 90

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: 120

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: 141

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: 266

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.

Go to advanced search