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Where Taxpayers and Advisers Meet

Search found 199 matches

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by SDLT Geek
Sun Aug 11, 2019 5:20 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Are we FTBs? previously named on mortgage, no beneficial interest - help please!
Replies: 1
Views: 11940

Re: Are we FTBs? previously named on mortgage, no beneficial interest - help please!

If J has no beneficial interest in G’s house then he should still be able to qualify as a first time buyer.

You should be able to get a copy of the transfer of the property to J and G from the Land Registry. If you are lucky that will confirm that it was held on trust for G alone.
by SDLT Geek
Wed Aug 07, 2019 8:43 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT on BTL Property Transfer to Spouse
Replies: 4
Views: 13876

Re: SDLT on BTL Property Transfer to Spouse

The chargeable consideration is any cash changing hands (zero presumably) and a proportion of the mortgage debt. So perhaps 90% of approx £120,000.
by SDLT Geek
Sun Aug 04, 2019 4:28 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT on BTL Property Transfer to Spouse
Replies: 4
Views: 13876

Re: SDLT on BTL Property Transfer to Spouse

A change made in November 2017 means that the higher rates of SDLT do not apply to transfers between spouses who are living together, even of an interest in a let property. So you are looking at standard rates. As these start at £125k chargeable consideration, you should escape SDLT but will need to...
by SDLT Geek
Sat Aug 03, 2019 3:23 pm
Forum: Property Taxation
Topic: Should I buy a commercial property investment through a company or as an individual?
Replies: 3
Views: 13545

Re: Should I buy a commercial property investment through a company or as an individual?

The stamp duty land tax in buying a commercial property will be the same whether you buy as an individual or through another entity.
by SDLT Geek
Tue Jul 16, 2019 8:07 pm
Forum: Property Taxation
Topic: Overage and SDLT
Replies: 2
Views: 12023

Re: Overage and SDLT

If you buy a property for a fixed price and for entering an overage, then you would normally apply to defer paying SDLT on the overage, making an estimate of the sums payable under the overage.
by SDLT Geek
Mon Jul 15, 2019 10:36 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Do I have to pay higher rate tax?
Replies: 5
Views: 13502

Re: Do I have to pay higher rate tax?

As your wife has not lived in Flat A, then you selling that one, but her keeping flat B when house C is bought, will mean the higher rates are due on house C.
by SDLT Geek
Sat Jul 13, 2019 6:16 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Do I have to pay higher rate tax?
Replies: 5
Views: 13502

Re: Do I have to pay higher rate tax?

As bd6759 says, we would need to know which properties each of you has lived in as your only or main residence to answer your main question. Addressing your follow up question: if flat A is first sold and flat B is transferred to a limited company before you buy house C, then the higher rates will n...
by SDLT Geek
Sat Jul 13, 2019 12:36 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Too late for reclaim for additional dwelling?
Replies: 2
Views: 12923

Perhaps not too late for reclaim for additional dwelling? Overpayment relief

There is a posting here: https://forums.moneysavingexpert.com/showthread.php?t=5905040 dealing with the same problem of missing what used to be the short time limit to put in the application where it has been reported that someone has recovered the extra 3% paid using overpayment relief referred to ...
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: 16547

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: 11676

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.

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