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Where Taxpayers and Advisers Meet

Partial Sale to Son

adamh
Posts: 33
Joined: Thu Aug 16, 2012 1:45 am

Partial Sale to Son

Postby adamh » Thu May 02, 2019 4:26 am

My home is worth about £2m.

If I sell £0.5m worth of it to my son (who would be a first time buyer), how much SDLT would he have to pay?

adamh
Posts: 33
Joined: Thu Aug 16, 2012 1:45 am

Re: Partial Sale to Son

Postby adamh » Thu May 02, 2019 5:17 pm

Just to clarify, my son lives with me and he would continue to live with me.

SDLT Geek
Posts: 171
Joined: Sun Apr 30, 2017 5:45 pm

Re: Partial Sale to Son

Postby SDLT Geek » Thu May 02, 2019 5:21 pm

It depends. If he buys a one quarter share and intends to live in the property as his only or main residence then he might be entitled to first time buyers' relief. A detailed paper accessible from this link https://www.blakemorgan.co.uk/news-events/blog/sdlt-first-time-buyers-relief/ deals with some of the issues arising. One issue is whether your son alone is the "purchaser" or whether both of you are "purchasers". If both of you are purchasers then the relief is not available.

There could be other complications, for example if your son has a spouse with property interests.


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