Hi, new poster here, please forgive any errors.
So, I'm sorry if this has been answered elsewhere. I've searched through a lot of SDLT threads on the internet and what I've read didn't help me to understand.
Here's the background.
1. Buying jointly with a partner
2. The house value is 190k, an all-cash purchase
3. His first purchase, my second - I'm holding onto my flat
4. SDLT if we buy jointly is £7000
Here's the question:
If he were to buy it in his name only (resulting in a lesser stamp duty bill), and then transfer half of the ownership to me at a later point (namely equity to the value of £95k) - would that be a more tax efficient way to do things?
Or would we incur stamp duty once the transfer of ownership was made?
As you can see, I am not an expert and have been getting conflicting information on this for a few days now. Obviously, I'm trying not to run afoul of the rules here!
Any advice you could provide is very much appreciated, thank you.
S
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