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Where Taxpayers and Advisers Meet

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by SDLT Geek
Sat Sep 19, 2020 6:18 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Second property sdlt
Replies: 1
Views: 173

Re: Second property sdlt

Both purchases could escape the 3% surcharge. The first if it is the only property you own (or are treated as owning). The second because it is a replacement of your only or main residence.
by SDLT Geek
Sun Aug 02, 2020 9:22 pm
Forum: Property Taxation
Topic: SDLT & CGT on Transfer of Home to Spouse (Before Divorce/Separation)
Replies: 7
Views: 1499

Re: SDLT & CGT on Transfer of Home to Spouse (Before Divorce/Separation)

Maths points to a problem for B with the replacement exception. So it seems Condition D for the surcharge to apply (the conditions are set out in FA03/Sch4ZA / para 3) is met. But it seems Condition C is not met for B as B at the time of the purchase has no other property interests. On this basis th...
by SDLT Geek
Tue Jul 14, 2020 8:06 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty land
Replies: 1
Views: 452

Re: Stamp duty land

It depends on whether the land counts as residential (the temporary reduced rates should apply) or as non residential land (when a different set of rates applies). I would expect it to count as residential if you are buying the garden land from the owner of the house from which it is separated. HMRC...
by SDLT Geek
Tue Jul 14, 2020 8:02 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Refund of 3% Surcharge
Replies: 3
Views: 833

Re: Refund of 3% Surcharge

It will be important that at the time of the Feb 2018 purchase you intended to live in that property as your only or main residence. I note that in fact your previous home remained your main residence until March 2019. That might take some explaining. For example, perhaps works were being done to ma...
by SDLT Geek
Tue Jul 14, 2020 7:51 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty holiday
Replies: 2
Views: 809

Re: Stamp duty holiday

It is key that your old home is sold. That is what you propose so the “replacement exception” should apply.
by SDLT Geek
Tue Jul 14, 2020 7:46 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: New reates as of 8th July
Replies: 4
Views: 928

Re: New reates as of 8th July

You are not “replacing” your main residence unless you meet a number of conditions, one of which is that you sold / disposed of a previous home within the last three years.
by SDLT Geek
Thu Jun 25, 2020 11:09 pm
Forum: Property Taxation
Topic: Property Transfer / Equity
Replies: 2
Views: 897

Re: Property Transfer / Equity

A property swap is not treated favourably for SDLT. Each party pays SDLT on the property it acquires, usually on the market value.
by SDLT Geek
Tue Jun 09, 2020 9:52 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SECOND HOME STAMP DUTY
Replies: 2
Views: 742

Re: SECOND HOME STAMP DUTY

Yes, the higher rates are due on the purchase.
by SDLT Geek
Fri May 15, 2020 10:04 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Help needed from a kind SDLT expert!
Replies: 4
Views: 943

Re: Help needed from a kind SDLT expert!

Here is that link:
https://www.blakemorgan.co.uk/sdlt-3-surcharge-hmrcs-mistake-on-replacement-of-only-or-main-residence/
by SDLT Geek
Fri May 15, 2020 10:03 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Help needed from a kind SDLT expert!
Replies: 4
Views: 943

Re: Help needed from a kind SDLT expert!

The system of cgt elections has no relevance to SDLT. For SDLT whether a property is a main residence is a matter of fact. If property A as a matter of fact is your main residence and you sell it, then within 3 years buying property C intending to live in it as your main residence, the 3% surcharge ...

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