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Where Taxpayers and Advisers Meet

Search found 192 matches

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by SDLT Geek
Fri Jun 30, 2017 12:40 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Replacement of main residence / share value under £40k
Replies: 6
Views: 1386

Re: Replacement of main residence / share value under £40k

So if you can obtain a valuation of your half share of your former matrimonial home at under £40,000 (allowing for any discount the valuer feels appropriate) you will escape the surcharge.

Otherwise it will be due, but with the ability to reclaim it if your old house is sold within 3 years.
by SDLT Geek
Thu Jun 29, 2017 7:00 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Replacement of main residence / share value under £40k
Replies: 6
Views: 1386

Re: Replacement of main residence / share value under £40k

Yes, I agree with maths now. maths, do you think it would be legitimate to apply a discount for a part share if a valuer said that would be normal? Valuers sometimes quote a 10% discount for a share.
by SDLT Geek
Thu Jun 29, 2017 6:00 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Replacement of main residence / share value under £40k
Replies: 6
Views: 1386

Re: Replacement of main residence / share value under £40k

I disagree with maths. Although your current husband is buying alone, for surcharge purposes you are treated as if you are a joint buyer with him. It sounds as if you cannot rely on his disposal as you had not lived in that house. So you seem possibly caught, subject to the £40,000 point. Will your ...
by SDLT Geek
Sun Jun 25, 2017 10:29 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Divorce: is SDLT payable in this situation?
Replies: 15
Views: 2997

Re: Divorce: is SDLT payable in this situation?

That is right. The date of disposal is the date of the transfer document. That is the date written on it after it has been signed and when it is put into effect. It is therefore before the day when the transfer gets registered at the Land Registry.
by SDLT Geek
Fri Jun 23, 2017 9:16 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Does extra 3% of stamp duty apply when having bare ownership of a property abroad?
Replies: 5
Views: 2531

Re: Does extra 3% of stamp duty apply when having bare ownership of a property abroad?

There are two cases relevant here where another property owned does not "count against" the person in whose name the property is. 1. Where the property is held as a "bare trustee" for another person. So that other person has the full right to the property. They could call for a tranfer of it. That d...
by SDLT Geek
Fri Jun 23, 2017 9:04 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Divorce: is SDLT payable in this situation?
Replies: 15
Views: 2997

Re: Divorce: is SDLT payable in this situation?

Good news. What will be the time difference between: 1. The date of completion of your purchase 2. The date put in the signed tranfer to your wife (not the later date of registration at the Land Registry)? If it is less than 30 days you might be able to benefit from some HMRC guidance to the effect ...
by SDLT Geek
Thu Jun 22, 2017 8:43 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Divorce: is SDLT payable in this situation?
Replies: 15
Views: 2997

Re: Divorce: is SDLT payable in this situation?

I do not foresee a problem with you reclaiming the surcharge on a later transfer of your interest in the former matrimonial home so long as you had lived in that as your only or main residence at some point within the three years leading up to the purchase of your new home. That is because the three...
by SDLT Geek
Wed Jun 21, 2017 9:22 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Divorce: is SDLT payable in this situation?
Replies: 15
Views: 2997

Re: Divorce: is SDLT payable in this situation?

A thought here. You say there is a consent order saying what is to happen: that you will transfer your share in the property and take a deferred charge instead. I agree with maths that once this happens you will no longer have a "major interest" in the former matrimonial home. But that transfer does...
by SDLT Geek
Mon Jun 12, 2017 8:02 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty returning from abroad
Replies: 8
Views: 1521

Re: Stamp duty returning from abroad

So as you have not sold the property you used to live in as your only or main residence (nor disposed of a major interest in it) the exception from the surcharge for the replacement of an only or main residence does not apply to you.
by SDLT Geek
Sun Jun 11, 2017 8:04 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty returning from abroad
Replies: 8
Views: 1521

Re: Stamp duty returning from abroad

I mean renting it out for two years.

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