This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.


Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

SDLT on additional share of BTL

Joined:Wed Aug 06, 2008 3:46 pm
SDLT on additional share of BTL

Postby pknight » Wed Apr 10, 2024 12:32 pm

Hi, I’m hoping someone can help with the following query as I’m not convinced my solicitor is correct

I’m buying my brothers 1/3 share in a BTL in which I already own 1/3 of it (we both have other BTLs so are familiar with the 3% additional SDLT) - the property is worth £100k and the outstanding mortgage is approx £55k, so his 1/3 share is worth £15k, which I am paying

He is also being released from his 1/3 share of the mortgage, approx £18.33k

Therefore the total consideration is the £15k I’m paying in cash, and the £18.33k of mortgage debt he’s being released from, so £33.33k total

My solicitor believes I’ll be liable for 3% SDLT on the £33.33k, but I believe I won’t be liable for any stamp duty cos the total consideration is below £40k

Who is correct?

Many many thanks for any responses
ps - I’m a qualified chartered accountant and have read the legislation in this area but cannot seem to make sense of it with respect to my scenario

Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”