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Where Taxpayers and Advisers Meet

Stamp Duty Laws

Joined:Tue Aug 14, 2018 9:56 am
Stamp Duty Laws

Postby skhan156 » Tue Aug 14, 2018 11:13 am

My wife bought a property 2 years ago. The property is jointly held with my daughter.
If I now purchase a property, which is jointly held by my wife. What stamp duty will be due on this?

Also, are husband and wife grouped together for first time buyers?
E.g. As my wife bought her property she paid first time buyer stamp duty
If i purchase the property in my name, will i pay the first time buyer stamp duty (i.e. 0% for 300k, 5% for 300-500k) or since my wife owns a property will i pay (0% for 125k, 2% on 125-250k and 5% for 250k and above).

Joined:Fri May 16, 2014 3:47 pm

Re: Stamp Duty Laws

Postby AGoodman » Thu Aug 16, 2018 1:57 pm

There will be no first time buyers relief (as all buyers must qualify) and you would also have to pay the 2nd home additional 3% (as your wife already has an interest in a home).

Buying in your sole name won't help you with the 3% as an interest held by your wife is still deemed to be yours for SDLT.

Joined:Wed Aug 06, 2008 3:33 pm

Re: Stamp Duty Laws

Postby sandy2000 » Wed Aug 14, 2019 11:59 pm

Is that provided wife's share is more than 40k (in the first property) ? I mean will the 40k limit apply in this case?

Joined:Fri May 16, 2014 3:47 pm

Re: Stamp Duty Laws

Postby AGoodman » Thu Aug 15, 2019 3:56 pm

Yes (re the 3%). nb a minor child's interest is attributed to the parents (I don't know if your child is a minor or not).

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