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Stamp duty second home SDLT
James_R
Posts: 26 Forumite
Hi,
I have a £22,000 share in a house rented out. Im currently renting a house butm want to buy house with my partner as main residence. The house is £165,000. Is there a way other than selling the house to avoid massive stamp duty on a home? It seems unfair you can buy a house for under 40,000 without SDLT tax but not the other way around.
I have a £22,000 share in a house rented out. Im currently renting a house butm want to buy house with my partner as main residence. The house is £165,000. Is there a way other than selling the house to avoid massive stamp duty on a home? It seems unfair you can buy a house for under 40,000 without SDLT tax but not the other way around.
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Comments
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Are you talking about SDLT2 on a second home or FTB SDLT relief.
If the former then 22k interest, if that is your share of market value, does not trigger SDLT2.
If the latter then you are not a FTB and you cannot get that status back by selling.2 -
I was talking about on a second home. So that means I only need to pay the standard rate? Thank you.0
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Also have you a link which says this?0
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How are you measuring the value of your share?0
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We both paid 21,500 for it at auction and paid 42,500TrickyDicky101 said:How are you measuring the value of your share?0 -
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Thank you!0
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The test is against current market value, so what you paid is not relevant unless it was recent.James_R said:
We both paid 21,500 for it at auction and paid 42,500TrickyDicky101 said:How are you measuring the value of your share?0
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