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Where Taxpayers and Advisers Meet

SDLT Sanity Check!

DtheRed
Posts:20
Joined:Thu Oct 05, 2017 5:35 pm
SDLT Sanity Check!

Postby DtheRed » Wed Jul 27, 2022 4:52 pm

Hi,

I would be grateful if I could just run my thinking on SDLT to ensure I get it right.

My wife owns 2 properties. The first is our home (hers) and the second is a BTL she owns jointly with her father (50% each) as tenants in common. I am looking to buy my father-in-law's 50% share in the BTL flat for £125,000. So as I understand it:

1) As my wife already owns property, it is irrelevant that I do not own anything and that the 3% SDLT will still apply to the full value (£3,750).
2) I have to pay the SDLT within 2 weeks of legal transfer and not land registry registration.
3) I must fill SDLT1 as the transfer is from my father-in-law to me only. (However, I wanted to be sure that the transfer did not require SDLT2 (i.e. was not (my wife + my Father in law) to (my wife + me) as it would be recorded in the land registry?)

The point I am most sketchy about is 3 and what form to use.

Appreciate any corrections or confirmations!

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