STAMP DUTY - Staircasing Shared Ownership

J123321

Hi All,


Can somebody tell me what stamp duty I will will be paying as I am confused with all the changes etc!!


I originally purchased in 2012 35% share for £59,500 from market value of £170,0000


I a m now staircaisng to 100% on the market value of £190,000 so paying an additional £123,500.


I have paid ZERO stamp duty to date.


Thanks in advance.

HanPop

Hi, i!!!8217;m not sure how helpful this is to you but we just staircased to 100%, our property was valued at £165,000 and we paid £420 stamp duty. Apparently it!!!8217;s cheaper because we!!!8217;ve been paying rent for 4 years? So I!!!8217;m not sure how they calculate it on shared ownership properties but it is less than I would have paid for the same priced property if I would have purchased outright straight away.

00ec25

original purchase amount paid 59,500 which was under the SDLT threshold so no tax paid at that time (you obviously did not make a market value election either given you paid nothing)

so you are subject to the staircase method, but have only 1 further transaction as that step takes you over 80% ownership so triggers SDLT and you end up at 100% anyway.

next purchase amount paid 123,500
therefore total paid to date 183,000

SDLT due on 183k
first 125k @ 0% = £0
125 to 183 = 58,000 @ 2% = £1,160

adjust for apportionment fraction 1160 x 123.5/183 = 783

you will pay £783 SDLT

read example 2
https://www.gov.uk/guidance/sdlt-shared-ownership-property