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Where Taxpayers and Advisers Meet

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by SDLT Geek
Sat Nov 03, 2018 8:34 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: An extra 1% SDLT surcharge for overseas buyers being proposed?
Replies: 13
Views: 2000

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

There was an announcement with the Budget on 29 October saying the Government will publish a consultation in January 2019 on a SDLT surcharge of 1% for non-residents buying residential property in England and Northern Ireland.
by SDLT Geek
Sat Nov 03, 2018 8:20 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Gifting beneficial interest in a commercial lease
Replies: 1
Views: 512

Re: Gifting beneficial interest in a commercial lease

I did wonder if the acquisition by your grandchildren in the beneficial interest in a leasehold property including dwellings would stop them being first time buyers for the purposes of the SDLT relief. But they should be alright as the lease has less than 21 years to run on the date they acquire it....
by SDLT Geek
Mon Oct 22, 2018 11:23 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: An extra 1% SDLT surcharge for overseas buyers being proposed?
Replies: 13
Views: 2000

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

There was an article in the Estates Gazette of 20 October 2018 speculating on the form the extra SDLT for foreign buyers could take. It mentions the experience in: Canada (taxing those who are neither Canadian citizens nor permanently resident in Canada) Singapore (depending on nationality and resid...
by SDLT Geek
Wed Oct 10, 2018 10:30 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Higher stamp duty refund
Replies: 2
Views: 832

Re: Higher stamp duty refund

It should not matter that you own other properties so long as you meet the conditions for the replacement of an only or main residence. There is some information here: https://m.zoopla.co.uk/discover/buying/stamp-duty-land-tax-3-surcharge-replacement-of-an-only-or-main-residence-and-the-all-importan...
by SDLT Geek
Sun Sep 30, 2018 1:27 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: An extra 1% SDLT surcharge for overseas buyers being proposed?
Replies: 13
Views: 2000

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

I have heard news reports today that Theresa May is now consulting with colleagues at this week's Conservative Party Conference on proposed changes to increase stamp duty land tax for buyers who do not pay UK tax. The idea seems to be that it will be an extra 1% on top of the existing 3% SDLT surcha...
by SDLT Geek
Sun Sep 30, 2018 1:23 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Purchasing freehold & SDLT
Replies: 7
Views: 2411

Re: Purchasing freehold & SDLT

Thanks for letting us know. Did you buy both the leasehold flat and the freehold interest in the whole building? Or did you just buy the leasehold flat in the end?
by SDLT Geek
Sun Sep 23, 2018 11:32 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: SDLT on part of 2nd property gifted to daughter
Replies: 2
Views: 621

Re: SDLT on part of 2nd property gifted to daughter

From what you say it is likely that the chargeable consideration is £10,000. Assuming there are no linked transactions then at this level there is no SDLT. The SDLT higher rates bite where the chargeable consideration is £40,000 or more.
by SDLT Geek
Wed Sep 12, 2018 7:39 am
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp Duty and Staircasing
Replies: 2
Views: 529

Re: Stamp Duty and Staircasing

When you bought in 2015 did you: (a) Buy direct from the social landlord, taking the grant of a new lease (when it would probably be a new dwelling) or (b) Buy an existing lease from someone who had previously acquired from the social landlord (more usually the case for an existing dwelling)? There ...
by SDLT Geek
Mon Sep 10, 2018 10:31 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: Stamp duty & mobile home
Replies: 2
Views: 544

Re: Stamp duty & mobile home

So long as the mobile home remains “mobile” then it would not “count against” you for the purposes of the higher rates of SDLT, so only normal rates of SDLT should apply to your bricks and mortar purchase. It would be different if the mobile home has become so attached as to become “part of the land...
by SDLT Geek
Sat Jul 07, 2018 10:49 pm
Forum: Stamp Duty, Stamp Duty Land Tax, SDLT
Topic: All transfers without consideration now exempt?
Replies: 1
Views: 634

Re: All transfers without consideration now exempt?

True outright gifts between family members are not liable for SDLT if there is no "chargeable consideration". Points to watch are: 1. Where there is debt involved, such as if a debt is forgiven as part of a transfer, or if liabilities change in respect of a third party debt (such as a transfer of a ...

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