We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Buying a share in a property, should I contribute towards stamp duty on my partner's new house?
Bluewater10
Posts: 1 Newbie
Some advice please, I want to do the right and reasonable thing but I don't want to do something that is actually beyond my commitment. I do not have a great deal of knowledge of the housing market and so would appreciate other's views...
I am in the future planning to buy a share of my business partner's current home. We plan to then have this house as a rental property. I am buying my own separate property. My partner is buying a new house and will then will own 4 properties. They therefore fall into the higher stamp duty bracket.
They have asked me to contribute to their stamp duty. My question is this: What if any obligation do people feel that I have to make such a contribution?
Thanks for any advice.
I am in the future planning to buy a share of my business partner's current home. We plan to then have this house as a rental property. I am buying my own separate property. My partner is buying a new house and will then will own 4 properties. They therefore fall into the higher stamp duty bracket.
They have asked me to contribute to their stamp duty. My question is this: What if any obligation do people feel that I have to make such a contribution?
Thanks for any advice.
0
Comments
-
Which property is your business partner expecting you to contribute towards the SDLT? His current home in which your buying a share? If that attracts SDLT then it makes sense for you to pay it based on the consideration you pay for your share.Bluewater10 said:Some advice please, I want to do the right and reasonable thing but I don't want to do something that is actually beyond my commitment. I do not have a great deal of knowledge of the housing market and so would appreciate other's views...
I am in the future planning to buy a share of my business partner's current home. We plan to then have this house as a rental property. I am buying my own separate property. My partner is buying a new house and will then will own 4 properties. They therefore fall into the higher stamp duty bracket.
They have asked me to contribute to their stamp duty. My question is this: What if any obligation do people feel that I have to make such a contribution?
Thanks for any advice.If he’s expecting you to contribute towards the SDLT of his new home that you won’t own part of then I don’t think you should be contributing towards that.0 -
If you're buying a property, and then in the future buying a share in your partner's current home then won't you also be within the additional stamp duty land tax rules of an extra 3%? I'd personally expect you to pay SDLT for your share only but I can see an argument that them not being able to sell their current home (as it's going to be a rental property) means they don't get relief for their purchase of their new home on the additional 3%, but they'd have additional SDLT if they sold it and bought a new rental property.
Are you sure it's worth keeping that property or could another property get a better rental yield.0 -
If you're planning on buying into somebody else's business, but can't agree the most basic costs involved in doing so, how are you going to agree all the ongoing decisions in that business?0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards