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    • Pixie5740
    • By Pixie5740 11th Jun 17, 11:39 AM
    • 11,010 Posts
    • 15,187 Thanks
    Pixie5740
    Hello I am a first time buyer, and I'm purchasing a shared owenership for 130.000 which is 50 percent. My solicitor has sent me a quote for the full value of stamp duty for 260,000. Am I right in saying that I won't have the pay the full 3,000 duty as I'm only buying half of the property?
    Originally posted by Blackadder01
    That depends on how you opt to pay the SDLT. You can use Market Value Election or Pay in Stages as you Staircase.

    https://www.gov.uk/guidance/sdlt-shared-ownership-property
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
    • Tobyagoode
    • By Tobyagoode 4th Oct 17, 3:44 AM
    • 1 Posts
    • 0 Thanks
    Tobyagoode
    I recently sold my principal residence in which my girl freind (partner) also resided.
    She had rented out her own house for the last 3 years.
    We jointly and equally purchased a new home and it was thought necessary to pay the extra 3% stamp duty because to date she has not sold her house. Ion more recent reading of tax news i now enquire as to whether we unnecessarily paid the 3% and are elligible to claim it back
    • G_M
    • By G_M 4th Oct 17, 7:50 AM
    • 41,460 Posts
    • 47,842 Thanks
    G_M
    She became joint owner of the new property. She already owns a property and now owns 2.

    Additional SDLT is due.

    Use the SDLT calculator to work out how much tax you’ll pay.
    • 00ec25
    • By 00ec25 4th Oct 17, 8:39 AM
    • 5,035 Posts
    • 4,381 Thanks
    00ec25
    I recently sold my principal residence in which my girl freind (partner) also resided.
    She had rented out her own house for the last 3 years.
    We jointly and equally purchased a new home and it was thought necessary to pay the extra 3% stamp duty because to date she has not sold her house. Ion more recent reading of tax news i now enquire as to whether we unnecessarily paid the 3% and are elligible to claim it back
    Originally posted by Tobyagoode
    don't know what you read, but the guidance is very clear when you read it. She is now the owner of 2 properties and was therefore correctly liable for the higher rate when "you" jointly purchased her additional property, given it is a tax on the purchase of ... an additional residential property
    https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property

    the property she continues to own was not her main residence for at least the previous 3 years given it was let in that period. (I assume "partner" means you are not married, so are not classed as "one unit" for the purposes of main residence anyway?)

    therefore she fails the test of being able to sell her previous main residence, after purchasing a new main residence, BUT within 3 years of the sold property last being used by her as a main residence (read para 3.25)

    https://www.gov.uk/government/publications/stamp-duty-land-tax-higher-rates-for-purchases-of-additional-residential-properties
    • poppy10
    • By poppy10 11th Oct 17, 2:35 PM
    • 5,879 Posts
    • 7,122 Thanks
    poppy10
    The link in this article to the "old stamp duty calculator" doesn't work anymore
    This post is sponsored by MoneySupermarket
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