Selling to partner on the cheap

Robtor

I own a property worth £280k, mortgage £130k
My partner owns a property worth £275k, mortgage £150k.

My partner is selling her property.

I would like to sell my property to her, is there anything stopping me selling it to her cheaply to reduce stamp duty costs and then transfer the remaining cash privately?

getmore4less

Fraud...........
Tax evasion.....

Probably both

ACG

Stamp duty is paid on the open market value I think.
So you can sell to her for whatever you like but not to pay less tax - as above, tax evasion (not tax avoidance which is the morally iffy one, tax evasion which is the legally iffy one).

davidmcn

ACG wrote: »

Stamp duty is paid on the open market value I think.

No, it's based on the actual consideration. Which includes the cash being handed under the table.