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Stamp duty payment on buy out?
Anthear
Posts: 227 Forumite
Hi - I wondered if anyone could help with this question......
If someone owns a property with another party and one wishes to 'buy the other out' - what's the position re Stamp Duty and how would it be calculated?
Many thanks
If someone owns a property with another party and one wishes to 'buy the other out' - what's the position re Stamp Duty and how would it be calculated?
Many thanks
0
Comments
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My understanding is that if the value of the transaction exceeds £40,000 you need to fill in a stamp duty return, but there will only be stamp duty to pay if you are paying more than £125,000.0
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as da rule says, it would only apply if the actual money being paid (the "chargeable consideration") was above the standard rate SDLT threshold of 125,000
the higher rate of SDLT would not apply as you are buying an additional share of a property you already part own, not buying a share of a new property for the first time0 -
Thank you!! xx0
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