Sdlt1 form

mackers88

I,m doing a straight transfer of a freehold property.
I,ve moved in with my mum ( of a certain age ), to help her out and see she,s OK ect, and we,ve concluded that the best course of action is for me to buy the place and take responsibility for it.( at market value - had RICS valuation done .


The transfer is really quite simple without a solicitor, but the SDLT1 Revenue stamp duty form is not quite as simple.


My query if anyone can help concerns Question 3 on the form.
Since I,m buying the freehold, I,m given 2 choices - Freehold with vacant possession, or freehold with tenant/lease, neither of which apply. I,m already in the house and mum will remain in the house.


Anyone able to help ? - Really need to get these answers right for the revenue !

mackers88

Yes OK - but
I have to record this as a Freehold transfer as I understand it.
The " Other" option is seemingly for matters not falling within Freehold, or lease ect

G_M

Land Registry rep is unlikely to answer a SDLT question. Different area of expertise......

G_M

For stamp duty purposes I'd use 'FP'. You need to specify freehold. There is no lease or tenancy attached. The tax payable will be based accordingly.

If in doubt, ring HMRC (but be prepared for a long wait.....)

davidmcn

G_M wrote: »

For stamp duty purposes I'd use 'FP'. You need to specify freehold. There is no lease or tenancy attached. The tax payable will be based accordingly.

If in doubt, ring HMRC (but be prepared for a long wait.....)

Agreed, "vacant possession" generally ignores family members. Doesn't make a difference to the amount of SDLT anyway.

mackers88

Thanks so far for everyones thoughts on this - revenue don,t make things easy for the so called layman

G_M

But good for you for doing it all yourself.