Stamp Duty Question

inch_high

Hi folks,

I mate of mine bought 50% share of her house 10 years ago. The 50% was valued at £55k, so with the total being £110k, she didnt pay stamp duty.

She is now going to buy the other 50%. Her house is now valued at £150k, meaning she is paying £75k for the other half.

Will she now have to pay stamp duty or will she be exempt as the new purchase is less than £125k?

If she does have to pay, will she need to pay 1% of £75k, or 1% of £150k?


Thanks in advance
Inchy

opinions4u

It's based on the share she's buying.

So, unless something has changed since I was last involved in a similar transaction, stamp duty should be zero.

Solicitor will confirm.