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Partner buying sisters share of property?
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Ah I see - TP1 is to split the physical property, and they don't have a specific form for part transfer of equity... It's becoming more clear...
Thank you again for looking to bring up with HMRC!
PS: Here are the replies I've had so far from solicitors:
A) There will be no SDLT due because you are not married
There will be no SDLT due because this is only a transfer of equity
C) We will seek clarification(!) from HMRC after you instruct us0 -
There can be confusion because the legal ownership is always held as joint tenants they hold the property on trust for the beneficial owners.0
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I have the agenda for Thursday now, there is a brief slot for this to be discussed.Pockelford wrote: »Thank you again for looking to bring up with HMRC!0 -
Hi SDLT - How did the meeting go? Did you have a chance to discuss this situation? Thanks!0
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The issue of who is the "purchaser" in this kind of case was raised at a Working Together Steering Group meeting on 5 September 2019; the minutes will be released in due course. HMRC had previous advice to the effect that, on a sale of an undivided share, it is both A and C who are the purchaser where the change of ownership is documented as a transfer from A and B to A and C. HMRC are understood to be reconsidering the position currently.0
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