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Where Taxpayers and Advisers Meet

Stamp Duty on Transfer of Equity to a Daughter

NickPrice
Posts:38
Joined:Fri Sep 11, 2015 12:39 am
Stamp Duty on Transfer of Equity to a Daughter

Postby NickPrice » Tue Mar 02, 2021 2:30 pm

Hello,

I have a BTL and it is in my sole name. I wish to do a transfer of equtiy (90%) to my daughter. She has no other property. Am I right that no stamp duty will be due, but that stamp duty will apply to her second property?

Thanks.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Stamp Duty on Transfer of Equity to a Daughter

Postby maths » Tue Mar 02, 2021 3:48 pm

Yes. No SDLT on 90% transfer assuming no chargeable consideration (and no mortgage?).

On future property purchase by daughter she will not qualify at that time as a first time buyer.

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Stamp Duty on Transfer of Equity to a Daughter

Postby bd6759 » Tue Mar 02, 2021 7:19 pm

And she will be liable to the additional 3% on her next acquisition.


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