Stamp duty on transfer of property

[Lask]

My partner and I own a flat jointly (property A)which we have elected to
be his main residence, current value about £150K. I own another property (B)
which is my main residence. If I transfer my share in property A to my
partner, is there stamp duty to pay, given that we are not married? If so is
the first £60K of the value of the transfer free of stamp duty, and the
balance payable at 1%?
>

[demetris]

Usually gifts and conveyancing where no consideration is involved are only subject to stamp duty of 5 pounds. But, as this advice is general and not all your circumstances are known, you sould take proper qualified advice before you take any decisions.

Demetris Savva BA
FCCAhttp://www.tax-accounting-london.info
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