Part Exchange of Properties

roger.wearden1@btint · Postby **roger.wearden1@btint** » Tue Dec 02, 2003 2:59 am

I have received an offer of Â£265,000 for my house, and wish to part-exchange with the other the party. They have accepted my offer of Â£200,000. How do be both stand with regards to stamp duty liability?

Ian McTernan CTA · Postby **Ian McTernan CTA** » Tue Dec 02, 2003 6:37 am

Not a stamp duty expert by any means, but I think under the new rules you would both pay stamp duty on the value exchanged, ie. full price. There may be a way around this and you need to talk to your solicitor who should be up on the new rules and will be able to advise fully.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com