We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Is Stamp Duty payable ???
coupleuk
Posts: 468 Forumite
Hi
We are selling our house as part-exchange to a developer.
We will be buying 2 properties at £120,000 each.
I believe there would be no stamp duty to pay as the properties are below the starting limit.
However, Ive had one solicitor (out of 3 phones for quote) tell me that there WOULD be stamp duty as the part-exchange was conditional upon us buying the two properties and formed a "linked transaction".
What are your thoughts please ?
We are selling our house as part-exchange to a developer.
We will be buying 2 properties at £120,000 each.
I believe there would be no stamp duty to pay as the properties are below the starting limit.
However, Ive had one solicitor (out of 3 phones for quote) tell me that there WOULD be stamp duty as the part-exchange was conditional upon us buying the two properties and formed a "linked transaction".
What are your thoughts please ?
0
Comments
-
It may depend on how the transaction is structured.
If there is one contract referring to the purchase of both properties then tax may be payable as the two purchases are linked.
If there are two contracts and you are happy to buy one, the other or both then you may be able to argue that the two transactions are not linked.
RiskAdverse1000
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.4K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.4K Work, Benefits & Business
- 598K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards