Good evening,
Scenario is this: a couple of relatives gifted 50% of a residential freehold property equally to my three adult children. On a current market value this is worth £46,666 per child. No payment or other financial consideration was paid, there is no mortgage or any other obligation.
Reading the SDLT guidance I believe no return is required but the relative’s solicitor thinks a return is required though there is no SDLT to pay. We can’t get through to the helpline at all!
Can anyone offer a definitive view on this?
Thanks
T
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