This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Changes in Stamp Duty with interspouse transfer of equity

NickPrice
Posts:38
Joined:Fri Sep 11, 2015 12:39 am
Changes in Stamp Duty with interspouse transfer of equity

Postby NickPrice » Tue Feb 27, 2018 12:10 pm

Dear all,

I have been unable to find details on the new rules on Stamp Duty when transferring BLT to spouse. The old rules entailed any 'consideration' over £40K (including mortgage liability) incurring stamp duty, but this was supposedly changed in the last budget announcement. Does anyone have details on the new rules and when they come into force?

Thanks in advance.

SDLT Geek
Posts:232
Joined:Sun Apr 30, 2017 5:45 pm

Re: Changes in Stamp Duty with interspouse transfer of equity

Postby SDLT Geek » Tue Feb 27, 2018 3:08 pm

The change was made in the Autumn Budget of 22 November 2017. It provides an exception from the higher rates of SDLT for transfers between spouses completing on or after 22.11.2017.

NickPrice
Posts:38
Joined:Fri Sep 11, 2015 12:39 am

Re: Changes in Stamp Duty with interspouse transfer of equity

Postby NickPrice » Tue Feb 27, 2018 3:45 pm

Thank you: that is most helpful. Does that mean that a stamp duty threshold of £125K applies?

SDLT Geek
Posts:232
Joined:Sun Apr 30, 2017 5:45 pm

Re: Changes in Stamp Duty with interspouse transfer of equity

Postby SDLT Geek » Tue Feb 27, 2018 5:20 pm

Yes, £125K for residential property in England. It is all changing for Wales from 1 April 2018!


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”