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!
First Time Owner Occupier - Higher Rate Stamp Duty
Comments
-
I can't link the document which I was directed to by hmrc as I'm a new user, but there's a scenario which specifically covers a share of a property worth less than 40k. It's well exploring if in a similar position, but those who consider it BS, please look away!0
-
I'm surprised someone can own shares in two properties which added together don't equal £40,000?Example 36:
G currently owns a property worth less than £40,000 which he does not intend to sell. He decides to purchase another residential property. At the end of the day of transaction, he is deemed to own one residential property as his ownership of the property worth less than £40,000 is not taken into account. Therefore, the higher rates will not apply.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Why are you adding them?0
-
Raymondo84 wrote: »Why are you adding them?
whilst I have not researched the question, surely you can appreciate that if the rule was any number of individually sub 40k shares are discounted that rather makes a mockery of the principle underpinning the "new" rule, ie to penalise those wishing to expand their property empire otherwise it would be very easy to manipulate the system through establishing "partnerships" of joint owners each of whom was sub 40k but collectively they owned multiple properties worth buckets0 -
whilst I have not researched the question, surely you can appreciate that if the rule was any number of individually sub 40k shares are discounted that rather makes a mockery of the principle underpinning the "new" rule, ie to penalise those wishing to expand their property empire otherwise it would be very easy to manipulate the system through establishing "partnerships" of joint owners each of whom was sub 40k but collectively they owned multiple properties worth buckets
Indeed but that's a series of assumptions, the guidance is quite clear that the properties are viewed separately - 3.11 below
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/509184/GuidanceNote_Final.pdf0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.6K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards