Stamp Duty on a Shared Ownership property

SDLT_Geek

tomM wrote: »

Thanks SDLT GEEK and 00ec25

In what ways might the original leesee!!!8217;s decision affect us here?

I!!!8217;m reading the below from other resources, which would suggest that the first time buyers relief isn!!!8217;t interacting with the shared ownership rule, as states in chapter 6, mentioned by 00ec25

Stamp Duty Land Tax on resale transactions (existing properties) follows the same procedure as with private property transactions, i.e. the consideration/purchase price for the property determines the level of SDLT, subject to the current thresholds.

What do you think?

Tom

As you indicate, the words you quote above in italics are not from the HMRC guidance note on the relief from first time buyers. They seem to come from a solicitors website dealing with SDLT on shared ownership leases generally, not first time buyers relief in particular.

I agree that if you are buying a shared ownership lease by taking an assignment of an existing lease from the existing lessee (rather than being granted a new lease by the landlord) then you can, if you meet the other conditions, be a first time buyer and claim the SDLT relief in respect of the purchase from the previous owner of the lease. You would not be entitled to the relief for any staircasing payments you make to the landlord.