I have a question about whether SDLT has to be paid in the following situation:
1. Residential property purchased in 2009 as a BTL investment. Held as tenants in common with 25% share x 4 (2 sets of couples). Purchase price £70,000 so no SDLT paid as prior to the imposition of surcharge tax on 2nd properties.
2. One (married) couple now proposing to sell their 2 x 25% shares to the other (unmarried) couple for £45,000 (i.e. market value of the house is £90,000).
On an individual basis each of the 2 sellers is receiving £22,500 from each of the 2 buyers. So I am thinking this is below the £40,000 threshold so no SDLT to pay or report.
Is this correct or am I missing something?
What land registry forms need to be completed?
Many thanks
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