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.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

SDLT - Would this be classed as a second property?

Options
MoneyInTheBank
MoneyInTheBank Posts: 17 Forumite
in House buying, renting & selling
My husband and I live in a mortgage free house which is solely in my name. If we were to buy another property with the intention of renting this out, and have it solely in his name, would this avoid paying the additional percentage towards SDLT since the new law came in? Or would it somehow be classed as a second property for him and he'd have to pay the increase?

Comments

  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    A married couple can only have one main residence for the purposes of SDLT. Your main home is the one you live in now so if he buys another property it will be subject to the additional 3% SDTL.

    HMRC wrote a comprehensive guidance note about the additional SDLT which has been referenced many times on the forum already in the many, many other threads about the additional SDLT.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    MoneyInTheBank wrote: »
    ...If we were to buy another property with the intention of renting this out...
    ...would it somehow be classed as a second property...
    <sigh>
    https://www.gov.uk/guidance/stamp-duty-land-tax-buying-an-additional-residential-property
    If you’re married ..., buying a property and your spouse ... already owns a property you may still be liable to the higher rates.
  • wolfplayer
    wolfplayer Posts: 149 Forumite
    Pay the extra SDLT if you're so eager to people-farm other people's incomes. Many of who are only priced out because of the BTL bubble boom.
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Pay it like everyone else, your not special
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • AndyBSG
    AndyBSG Posts: 987 Forumite
    Part of the Furniture Combo Breaker
    If you weren't married then your husband could technically have a property in his name but as soon as you got legally wed that right disappeared... You could always divorce if you want to avoid the SDLT!
  • Bluebirdman_of_Alcathays
    Bluebirdman_of_Alcathays Posts: 2,859 Forumite
    AndyBSG wrote: »
    If you weren't married then your husband could technically have a property in his name but as soon as you got legally wed that right disappeared... You could always divorce if you want to avoid the SDLT!
    Contrived - would probably fall foul of GAAR (although as it's untested who knows....)
  • always_sunny
    always_sunny Posts: 8,314 Forumite
    AndyBSG wrote: »
    If you weren't married then your husband could technically have a property in his name but as soon as you got legally wed that right disappeared... You could always divorce if you want to avoid the SDLT!

    The extent some people would go to avoid paying tax on second property!!!! Maybe the hubby would consider it but for other reasons :rotfl:
    EU expat working in London
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    always_sunny wrote: »
    The extent some people would go to avoid paying tax on second property!
    Didn't we have somebody here proposing to put a house in the name of an (as yet unborn) child as a cunning avoidance strategy?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.5K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture